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Dependable supplier of critical minerals

The Australian Government has a Critical Minerals Strategy to expand our critical minerals sector. It will expand downstream processing and help meet surging global demand.

  • Australia has deposits of 31 critical minerals. We are the world’s no.1 lithium producer.
  • We are a world-leader in resources exploration, extraction, production and processing.
  • Our efficient resources sector delivers A$400—A$450 billion of exports per year across a range of mineral commodities.
  • Australian mining has a reputation for safety, high labour standards, First Nations engagement and environmental responsibility.

Australia is set to become a secure, reliable source of minerals exports to economies across Asia and the world. This means we can provide critical minerals to support global supply chains for decarbonising technologies such as electric vehicles and wind turbines.

Our competitive advantage in critical minerals

Australia has an extensive pipeline of critical minerals projects. This is supported by our mining engineering, technology and services (METS) sector. Our global competitive advantage is built on:

  • a highly skilled resources workforce
  • over 6,000 METS companies
  • reliable and transparent regulation
  • security of tenure and dependable contract law
  • increasing access to renewable energy for mining and mineral processing
  • supportive governments, policies, incentives and programs.

Around 80% of the Australia is ‘under-explored’, according to Geoscience Australia (Source, Geoscience Australia, Exploring the Future: Why are we doing it).

A Secure, stable supply

Are you looking for a secure and stable supply of critical minerals? Australia’s resources industry has built a reputation in Asia as a reliable supplier of minerals:

  • established supply chains, including for critical minerals
  • long-established trading partnerships in the Asia-Pacific region
  • excellent environmental, social and governance (ESG) practices
  • a globally respected legal system
  • ongoing investment in low-carbon extraction.

Australia is already the world’s 4th largest producer of rare earth minerals (Source: Office of the Chief Economist, Outlook for Selected Critical Minerals 2021).

Incentives, grants and support

Export Finance Australia manages the Australian Government’s A$4 billion Critical Minerals Facility (CMF). Investors may be able to access finance through the CMF if projects align with Australia’s national interest. Projects may include the exploration, production and processing of critical minerals.

Up to A$1 billion of the A$15 billion National Reconstruction Fund (NRF) is earmarked for technologies that will help us transform our economy — including in mining and exploration.

Snapshot

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Ranking

Top 5 for 21 commodities including cobalt, lithium, manganese, tungsten and vanadium.

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Investment

#1 option for mining. Australia scores top place in global rankings for mining investment.

A leading destination for critical minerals

Australia is creating opportunities for overseas investors and suppliers. The goal is to help diversify supply chains and secure a reliable supply of critical minerals.

Australia is set to become a major global supplier of critical minerals. We are already responsible for 50% of lithium extraction, with the world’s second largest resources. (Source: Office of the Chief Economist, Resources and Energy Quarterly December 2023) (PDF 8.2 MB)

  • The Critical Mineral Strategy 2023-2030 aims to help Australia become a globally significant producer of raw and processed critical minerals.
  • Expansion is backed by financial support. The Australian Government announced an additional A$2 billion in financing for the CMF in October 2023.
  • Australia is negotiating improved access for critical minerals with our trading partners.
  • The Government’s Critical Minerals Office (CMO) provides national policy and strategic advice to industry, to help grow the industry.
  • Austrade provides business-to-business facilitation by directly linking Australian critical minerals producers with global offtake, debt or equity financing.

Australia’s lead science agency, the Commonwealth Scientific, Industrial and Research Organisation (CSIRO) leads research into critical minerals in Australia. It has developed a Critical Minerals Roadmap.