Federal Minister for Resources and Northern Australia, Madeleine King, and Canada’s Minister for Energy and Natural Resources, Jonathan Wilkinson, have released a joint statement on critical minerals cooperation in which shared priorities on critical minerals extraction, processing and refining were highlighted.
The two ministers confirmed that Australia and Canada will work together to improve transparency in critical minerals supply chains and to promote recognition of strong environmental, social and governance (ESG) standards in critical minerals markets.
Together, Australia and Canada developed the following non-legally binding understanding to promote shared priorities in the critical minerals space:
Drive robust ESG efforts
Responsible sourcing and higher ESG standards are emerging as major factors in the security of supply of critical minerals and are also necessary to achieve sustainable global practices. Australia and Canada will advocate for robust ESG credentials built into global critical minerals supply chains through close collaboration in multilateral fora, including International Standards Association (ISO), and work bilaterally to support market opportunities for industry players with strong responsible mining credentials.
Drive the development of critical minerals supply chain transparency and traceability to monetise the value proposition for responsibly sourced minerals
Australia and Canada commit to harmonising and prioritising critical minerals supply chain transparency and traceability measures, including through the International Energy Agency (IEA), to help ensure that global supply chains are guided by fair market practices and underpinned by robust ESG standards.
Ensuring that Australia and Canada’s common values are accurately reflected through multilateral fora to avoid overlap and ensure complementarity
Australia and Canada will closely coordinate their collective approach to critical minerals supply chain security and sustainability at key multilateral fora including the IEA, the Minerals Security Partnership, the Conference on Critical Minerals and Materials and the Sustainable Critical Minerals Alliance. The two countries will also explore opportunities for targeted partnerships and initiatives to increase cooperation amongst like minded partners to secure critical mineral supply.
Supporting bilateral mining and service sector trade and investment
Australia and Canada will share their respective approaches to industry growth models for supporting mining supply and services in global markets and collaborate on targeted trade and investment missions.
Exploring joint Research and Development (R&D) research exchanges and investment in strategic areas
Australia and Canada will explore opportunities for R&D collaboration across the entire critical minerals supply chain from geoscience and green mining technology, to approaches to mineral processing, and R&D related to battery supply chains, including recovering critical material from waste and sharing REE recycling technology developments to strengthen global REE supply chain resiliency.
Commitment to continuing improving engagement with Indigenous peoples
Australia and Canada will share information and best practices related to their shared priority of reconciliation, economic inclusion, shared decision-making and benefit sharing with Indigenous peoples, highlighting the importance of genuine partnerships with Indigenous peoples and other communities in the advancement of critical minerals related projects.
Ms King said consumers and investors around the world seeking to reduce their carbon footprint and invest in green technology should understand the high ESG standards of the Australian resources sector.
“Australia and Canada have a shared interest in promoting open and transparent markets for critical minerals which are crucial for clean energy technology that will help the world lower emissions and address climate change.
“Following our talks in Toronto, our two countries have agreed to advocate for robust ESG credentials to be built into global critical minerals supply chains and drive transparent and traceable supply chains.”
Ms King said that prices paid for Australian minerals need to recognise the high ESG standards the Australian industry adheres to and the fact that Australian workers enjoy good working conditions and the highest safety standards.
