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Australia will establish a strategic reserve of critical minerals to enhance economic resilience
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Release time：2025-04-28
source：Https://www.mining-technology.com/
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This reserve will receive initial investment support of AU$1.2 billion (US$766.7 million).
The Australian government recently announced the establishment of a national strategic reserve for critical minerals to strengthen economic resilience and safeguard national interests in a changing geopolitical environment. This strategy will leverage Australia's abundant mineral resources to meet the growing domestic and international demand for critical minerals.
The government will initially invest A\$1.2 billion, including A\$1 billion in additional investment in existing critical mineral facilities, bringing the total investment to A\$5 billion. These funds will primarily support the start-up costs of new projects undertaken by the private sector and international partners. The reserve will be implemented through national offtake agreements and selective stockpiling, focusing on securing minerals critical to the safety and security of Australia and its key strategic partners. Importantly, this reserve asset will generate ongoing cash flow through global market sales and strategic partner transactions. Prime Minister Albanese emphasized: "This strategic reserve gives the government the power to buy, hold and dispose of critical minerals domestically, enabling us to better manage trade and market fluctuations. This will be a national strategic asset for Australia, and we will use it wisely to protect national interests." To support the reserve's development, the government has also launched a A\$7 billion tax incentive plan for critical mineral production. A dedicated working group will be established to finalize the specific implementation plan for the reserve, with the entire system expected to be operational in the second half of 2026. Resources Minister Madeleine King noted: "While continuing to supply critical minerals to the global market, ensuring the supply of minerals needed for domestic manufacturing is equally important. This series of measures demonstrates the government's unwavering commitment to the development of the critical minerals industry and will bring more investment and job opportunities to Western Australia."
This policy contrasts sharply with the stance of Opposition Leader Peter Dutton, who proposed cuts to industry support policies, including production tax incentives, to fund his A\$600 billion nuclear energy plan. Notably, in January this year, the Cooke government already allocated funds to support rare earth mining research in Western Australia, aiming to build new rare earth industry clusters.
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