Australia has joined an international partnership that aims to develop a robust international supply chain for the secure and consistent delivery of the critical minerals necessary for new clean energy projects.
The Minerals Security Partnership is a bilateral agreement between the United States, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the United Kingdom and the European Commission.
Minister for Trade and Tourism, Don Farrell, and Minister for Resources and Northern Australia, Madeleine King, made the announcement on the sidelines of the Sydney Energy Forum, attended by US Secretary of Energy, Jennifer Granholm.
“The US has taken a strong lead on the new partnership, which will help member countries build links with key markets in our region and globally, and help embed Australia in international critical mineral supply chains and technologies crucial to the global economy,” Mr Farrell said.
“The partnership seeks to catalyse public and private investment for mining, processing and recycling projects that adhere to the highest environmental, social and governance (ESG) standards.”
Mr Farrell, Ms King and Ms Granholm also attended the signing of a memorandum of understanding between Australia’s Arafura Resources and major US company General Electric (GE).
The MOU will see GE progress negotiations to purchase rare earths materials from Arafura’s Nolans Project in the Northern Territory as a key component of wind turbine renewable energy generators.
Ms King said the MOU was an example of how US and Australian businesses were partnering and investing to secure supply chains and accelerate the global transition to net zero emissions.
“Australia is determined to play a constructive role in international efforts to reduce emissions, while preparing Australia to become a clean energy superpower,” Ms King said.
Australia hosts vast reserves of critical minerals, such as lithium and cobalt, which are crucial for clean energy technologies such as batteries and electric vehicles, as well as mobile phones and computers.
