The Federal Government has updated Australia’s critical minerals list and has released a new strategic materials list of commodities to help build strategic critical minerals hubs around the country.
The critical minerals list outlines minerals that are essential to low-emission technology, the economy and national security, and whose supply chains are vulnerable to disruption.
Previously there were 26 minerals on the list, including cobalt, lithium, manganese, and rare earth elements.
The Federal Government began consultation with industry experts and stakeholders to inform an update of Australia’s critical minerals list in July.
As a result, the list has been expanded to include fluorine, molybdenum, arsenic, selenium, and tellurium, all of which are currently used in the defence and technology sectors.
Helium was removed from the list to further align Australia’s critical minerals list to the lists of the country’s international strategic partners. The list now includes 30 minerals or minerals groups.
To coincide with the updated critical minerals list is Australia’s new strategic materials list, which identifies commodities that are essential for the energy transition but aren’t at risk of supply chain disruptions and aren’t vulnerable enough to meet the critical minerals list criteria.
Australia’s strategic materials list consists of aluminium, copper, nickel, phosphorus, tin and zinc. The Federal Government cited these six minerals as having well-established industries, greater global market depth, clearer price transparency and stable supply chains.
The updated critical minerals list and the strategic materials list were constructed based on recommendations made to the Federal Government’s Critical Minerals Strategy, which was released in June.
Federal Resources Minister Madeleine King said the changes were also made following extensive consultations with industry, the public, and states and territories, and would support Australia’s growth as a major exporter of clean energy materials.
“The updated critical minerals list and the new list of strategic materials will help government focus on those commodities needed to create jobs, keep us secure and power our economy,” King said.
“These minerals are critical to the greening of our economy and the defence of Australia and our allies.”
The Federal Government will review both lists at least every three years and may update them in response to global strategic, technological, economic and policy changes.
“Australian copper, nickel, aluminium, phosphorous, tin and zinc will be vital to the world’s energy transition, which is why for the first time ever we have articulated their economic and strategic importance by creating the new strategic minerals list,” King said.
“Australia is well placed to meet increasing global demand for minerals, with large endowments, technical expertise and established resources supply chains.”
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