MELBOURNE, June 20 (Reuters) – Australia, one of the world’s biggest suppliers of raw minerals, unfurled a landmark strategy on Tuesday that outlines how it will work with investors and international partners to build a critical minerals processing industry for the energy transition.
The Labor government strategy aims to see Australia as a significant producer by 2030 of raw and processed critical minerals that are key to the energy transition, on its path to becoming a renewable superpower.
Supplier of nearly half of the world’s lithium, Australia is a significant producer of rare earths, cobalt, copper, graphite, manganese and other minerals key to the global energy transition.
However those minerals are largely processed in China, including into materials essential in batteries and magnets for products from electric vehicles to missiles. Western nations want to ease China’s grip after supply was disrupted during the COVID-19 pandemic and given tensions over Taiwan.