Australia’s Federal Government has recently revised its critical minerals list and introduced a fresh strategic materials inventory aimed at fostering strategic critical minerals hubs across the nation.
The critical minerals list pinpoints minerals crucial to low-emission technology, the economy, and national security, whose supply chains are susceptible to disruption. The previous list contained 26 minerals like cobalt, lithium, manganese, and rare earth elements.
Beginning consultations with industry specialists and stakeholders in July, the Federal Government sought input to update Australia’s critical minerals list. Consequently, the list has expanded to encompass fluorine, molybdenum, arsenic, selenium, and tellurium—minerals currently integral to the defence and technology sectors.
In alignment with the critical minerals lists of international partners, helium has been removed from Australia’s critical minerals list, which now includes 30 minerals or mineral groups.
Simultaneously, Australia unveiled a new strategic materials list identifying commodities essential for the energy transition but not at risk of supply chain disruptions. This strategic materials list features aluminium, copper, nickel, phosphorus, tin, and zinc. These six minerals were selected for their well-established industries, greater global market depth, transparent pricing, and stable supply chains.
The updates to the critical minerals list and the introduction of the strategic materials list were formulated based on recommendations from the Federal Government’s Critical Minerals Strategy, released in June.
Federal Resources Minister Madeleine King emphasized that these changes resulted from extensive consultations with industry, the public, states, and territories, aiming to bolster Australia’s growth as a major exporter of clean-energy materials.
King highlighted, “The updated critical minerals list and the new list of strategic materials will enable the government to focus on the commodities necessary for job creation, national security, and economic power, essential for the green economy and defence strategies of Australia and its allies.”
The Federal Government commits to reviewing both lists at least every three years, potentially updating them in response to global strategic shifts, technological advancements, economic trends, or policy alterations.
“Australian copper, nickel, aluminium, phosphorus, tin, and zinc will play pivotal roles in the global energy transition. For the first time, we have outlined their economic and strategic significance by establishing the new strategic minerals list,” King emphasized.
“Australia stands well-positioned to meet rising global mineral demands, boasting substantial reserves, technical proficiency, and robust resource supply chains.”
