Madeleine King says there is ‘no good reason’ Australia shouldn’t embrace processing of rare earth minerals
Australia should not shy away from taking a leading role in processing rare earth minerals, Federal Resources Minister Madeleine King says.
In her speech to a business lunch on the final day of the Resources Technology Showcase event, Ms King said Australia should embrace a bigger role in processing rare earth minerals.
“Some might say that taking up a challenge to compete in the mining processing and refining of critical minerals and rare earths is just too much and that we should stick to what we do best, mining concentration and export, leave the processing to someone else,” she said.
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By continuing you agree to our Terms and Privacy Policy.“I have a different view, and the Albanese Labor Government also has a different view. It is my view that Australia, with this geology of such enviable riches, should step up — step up and take responsibility globally on rare earths.
“There is no good reason not to step up with the ability of the Australian resources sector that’s all on display here.
“There is no nation better placed to ensure the world has a diversity of choices when it comes to the minerals and metals it needs for its technology and everlasting security.”
Ms King also said the critical mineral strategic reserve announced earlier this year would be designed with industry input.
The reserve was announced in April in an aim to counter China’s dominance in the rare earth sector.
“We are working on our commitment to set up the critical mineral strategic reserve, which will support the development of this crucial sector,” Ms King said.
“The reserve will play a role in providing price certainty to emerging critical mineral projects, and that in turn will help de-risk those projects and encourage private sector investment.
“Pricing certainty will mean companies and investors are less exposed to markets that are opaque and subject to manipulation.
“Mechanisms for an appropriate price floor are under active consideration, along with creating voluntary national offtake agreements.”
