The funding is aimed at increasing the domestic refining of critical minerals, which are key to technologies used in the transition to green energy.
It is aimed at increasing domestic refining of critical minerals , which are key to technologies used in the transition to green energy.The government hopes its investment will establish a sovereign supply chain, given China currently has a near monopoly on the market.
Rare earth oxides are used in advanced manufacturing of a wide range of items, including electronic devices, batteries, magnets, metal alloys, medical devices and defence weaponry. "If we get this right, if we get the transition to net zero, take up the opportunities that are there in areas like rare earths and critical minerals, then we can be even more prosperous in the future.The federal government is planning to pour billions of dollars into critical minerals in an effort to build up local production of batteries, solar panels and wind turbines.
"In Australia, and particularly Western Australia, we export a lot of minerals but in terms of value addition and processing minerals, particularly critical minerals, I think we've often fallen well short of our ambition."
Politics Future Made In Australia Critical Minerals Rare Earths Mining China Iluka Resources Madeline King Anthony Albanese
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