Canberra has identified 15 rare earth and critical mineral projects it aims to champion as part of joint Australia-US efforts to challenge China’s dominance in the supply of materials commonly used in the defence and high-tech industries.
A government report published on Tuesday detailed the projects, which have been proposed by more than a dozen mining and metals companies and would require A$5.7bn to develop. They cover critical minerals including rare earths, antimony, magnesium and tungsten — the global processing and supply chains for which are all controlled by China.
Linda Reynolds, Australia’s defence minister, said: “The critical minerals sector is vital for defence, with many of our advanced capabilities depending on them. That means it is essential we have a secure source of supply, especially given the current geopolitical headwinds.”