Australia and Canada have signed a strategic pact to align their vast critical minerals sectors.
Australian Federal Resources Minister Madeleine King and Canadian Minister for Resources and Energy Tim Hodgson signed the joint declaration of intent on critical minerals collaboration at the recent G7 Energy and Environment Ministers’ Meeting in Toronto.
The agreement is a direct response to China’s market dominance and aims to build a secure, high-standard alternative supply chain for G7 and other allied nations.
King emphasised the fact the pact unites two of the world’s largest “like-minded” producer nations.
“As producing nations, it is important we collaborate to ensure both our communities and industry can benefit from growing demand for critical minerals,” King said. “By working together, we can build secure, diversified and sustainable critical minerals supply chains.”
For the mining sector, the agreement aims to accelerate projects of “mutual interest” and encourage new commercial partnerships and research collaborations. A key objective is to ensure that emerging standards-based markets, such as those for green steel or batteries, are designed to reward the high environmental, social and governance (ESG) standards of Australian and Canadian producers.
King said these minerals are “at the heart of the economic and national security of both our countries”, underscoring the high-level government backing for the initiative.
This deal is the second major pillar in Australia’s re-energised critical minerals strategy, following the landmark critical minerals agreement signed with the US last month. Together, the agreements form a powerful new alliance aimed at securing the materials essential for defence and the global energy transition.
