The Queensland Resources Council (QRC) has welcomed the upcoming release of the Australian Government‘s revised Critical Minerals Strategy and indicated support for an Opposition plan to add aluminium, alumina, bauxite, nickel, copper, zinc, potash, and phosphate to the list.
According to QRC Chief Executive Ian Macfarlane, the rapidly rising global focus on critical mineral sources and supply chains means Australia and Queensland must move swiftly to capitalise on the investment and job opportunities that will result from the surge in demand.
“Critical minerals is the buzz term around the world at the moment, and for good reason because they are essential to the development of modern, low-emissions economies,” Macfarlane said.
Macfarlane stated that despite the fact that there is no universally agreed-upon list of critical minerals, the Australian and Queensland governments have been working for several years to develop a priority list of minerals for exploration and investment.
“Australia has opportunities to mine, process, use and export the critical minerals that will support decarbonisation, create expanded manufacturing capacity and support industries such as defence, aviation and medicine,” he added.
The Australian Government is set to release the updated Critical Minerals Strategy, which will unify earlier versions of the strategy and expand on over $50 million in grant announcements made by Resources Minister Madeleine King under the Critical Minerals Development Program.
Macfarlane said the QRC welcomes the Government’s focus on an updated strategy and supports Senator Susan McDonald’s proposal to expand Australia’s critical minerals list to include aluminium, alumina, bauxite, nickel, copper, zinc, potash, and phosphate.
“There is strong global competition for investment in critical minerals projects and processing capacity and Australia will see the best results and create the most jobs when there is bipartisan support at a federal level and when the Australian and Queensland Governments work together on an aligned strategy,” Macfarlane stated.
“We urge the Australian and Queensland Governments to continue this momentum,” he added.
