Australia joins global partnership on securing critical mineral supply chains

Australia has joined the Mineral Security Partnership in its mission to develop and secure global supply chains for critical minerals that are crucial to clean energy technology and the global transition to clean energy.

Australia joins the US, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the UK and the European Commission in the partnership.

“The US has taken a strong lead on the new partnership, which will help member countries build links with key markets in our region and globally, and help embed Australia in international critical mineral supply chains and technologies crucial to the global economy,” Minister for Trade and Tourism Don Farrell said.

“The partnership seeks to catalyse public and private investment for mining, processing and recycling projects that adhere to the highest environmental, social and governance (ESG) standards,” the minister said.

Related: Morrison makes pitch to boost mining industry, critical mineral supply chain

Minister for Resources and Northern Australia Madeleine King held a bilateral meeting with US Secretary of Energy Jennifer Granholm to discuss the importance of critical minerals for the transition to clean energy.

The meeting also included manufacture of new battery, solar and electric vehicle technologies, and how to improve cooperation on critical minerals.

“My discussions with Secretary Granholm were extremely positive, and underlined how Australia and the United States can work together to further the development of critical minerals and to diversify global supply chains,” Minister King said.

“We agree that ongoing and secure supplies of critical minerals will be crucial to the modern renewable technologies that will ultimately help our two countries, and the world, achieve our net-zero ambitions,” she said.

Secretary Granholm also said that as building blocks of clean energy technologies, critical minerals are an integral part to the US and Australia’s shared climate objectives.

She added that bolstering the diversity of and elevating responsible standards for their associated supply chains is an area ripe for enhanced bilateral cooperation.

“I’m so pleased with the productive conversations I’ve had with Minister King and Australian industry on how to leverage our strengths and resources,” the US secretary said.

Minister King and Secretary Granholm agreed that officials from the two countries would meet within three months to make further progress on the recently signed Australia – United States Net Zero Technology Acceleration Partnership.

Minister Farrell, Minister King and Secretary Granholm also attended the signing of a memorandum of understanding between Australia’s Arafura Resources and major US company General Electric (GE).

The MOU will see GE progress negotiations to purchase rare earths materials from Arafura’s Nolans Project in the Northern Territory as a key component of wind turbine renewable energy generators.

Minister Farrell said the agreement shows the real potential for Australia to foster strong commercial critical minerals partnerships with our major trading partners.

“It is also an indication of this government’s commitment to the development of the Australian critical minerals sector,” Minister Farrell said.

The minister continued that the MOU was an example of how US and Australian businesses were partnering and investing to secure supply chains and accelerate the global transition to net zero emissions.

“Australia is determined to play a constructive role in international efforts to reduce emissions, while preparing Australia to become a clean energy superpower,” Minister King said.

Australia hosts vast reserves of critical minerals, such as lithium and cobalt, which are crucial for clean energy technologies such as batteries and electric vehicles, as well as mobile phones and computers.

Source: Senator the Hon Don Farrell, Hon Madeleine King joint media release