The Morrison Government has released a new pitch to attract more investment in critical minerals projects and greenfield opportunities, as Australia continues to elevate itself as a leading source and exporter of critical minerals.
The Australian Critical Minerals Prospectus 2020 identifies new significant commercial opportunities in hundreds of critical minerals and rare earth elements projects across Australia.
Minister for Trade, Tourism and Investment Simon Birmingham said Australia had some of the richest stocks of critical minerals and it was vital every possible step was taken to highlight to overseas investors the enormous potential of this emerging sector.
“Australia is lucky to have an abundance of critical minerals, our next challenge is to attract the necessary overseas investment to get projects up and running, including in high-value activities such as processing and manufacturing,” Minister Birmingham said.
“In order for Australia to fully take advantage of the growing demand for critical minerals we need to attract more investment along the entire supply-chain whether it be exploration, extraction, production and processing.
“This extensive stocktake of hundreds of projects illustrates the immense opportunity Australia presents for investments to not only extract raw critical minerals out of the ground, but to also process critical minerals and manufacture products such as batteries, superalloys, petrochemicals and high-end technological applications.”
Minister for Resources, Water and Northern Australia Keith Pitt said critical minerals are key inputs for an increasing range of high-tech applications, including advanced manufacturing, health technologies and defence and space industries.
“Businesses all over the world are looking to de-risk their supply chains and secure stable sources of critical minerals, and Australia offers a reliable and trusted option,” Minister Pitt said.
“We have technologically advanced, innovative and efficient resources and METS sectors, globally recognised environmental practices, and a Government that supports investment.”
The Prospectus details over 200 potential investments in a wide-range of critical minerals including in lithium where we are already the world’s largest producer and other minerals including cobalt, manganese, antimony, zirconium, titanium, tantalum, zirconium, tungsten, vanadium and niobium.
The 2020 Prospectus expands on the first edition which focused on rare-earths projects by incorporating a broader range of critical minerals opportunities. It also builds on last year’s release of Australia’s first Critical Minerals Strategy and the recent creation of the Critical Minerals Facilitation Office.
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