The Federal Government has announced plans to establish a Critical Minerals Strategic Reserve if re-elected, with plans to invest $1.2 billion into the initiative.
The Federal Government is aiming to bolster Australia’s economic resilience and national security, transitioning from a critical mineral supplier to a global market leader, strategically capitalising on the rising demand for rare earths, high-tech manufacturing materials and resources for the energy transition. Prime Minister Anthony Albanese said the Critical Minerals Strategic Reserve would help Australia unlock its full potential of critical minerals at a critical time in the economy.
“In a time of global uncertainty, Australia will be stronger and safer by developing our critical national assets to create economic opportunity and resilience,” Albanese said. “To leverage our natural resources is in our national interest.”
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