Minister for Resources and Northern Australia Matt Canavan says Australia could become a major global supplier of minerals critical to 21st Century technologies.

It comes after Minister Canavan released a report from Geoscience Australia – Critical Minerals in Australia – highlighting Australia’s suitability to producing significant extra wealth from its extensive mineral resources, and world-class mining expertise.

The report, Critical Minerals in Australia: A Review of Opportunities and Research Needs, was commissioned by Geoscience Australia in collaboration with RMIT University and Monash University, the report analyses the current state of critical minerals in Australia and highlights key areas for future research.

“Australia is already demonstrating it can meet the needs of key trading partners in a range of critical minerals,” Minister Canavan said.

“We are one of the world’s top five producers of antimony, cobalt, lithium and rare earths, minerals rated as ‘critical’ by the US, UK or EU.

“The growing list of new and emerging technologies using critical minerals includes advanced manufacturing and health applications, rechargeable batteries, renewable energy systems and electric cars.”

Minister Canavan said the Australian Government is committed to ensuring Australia reaches its potential as a global supplier of critical minerals.

“The Australia’s National Resources Statement released in February 2019 outlined the development of a national strategy through the Council of Australian Governments Energy Council to harness the emerging opportunities offered by the critical minerals sector,” Minister Canavan said.

Critical minerals projects would be prioritised in the latest industry funding round, which close on March 28. For more information about the latest industry funding round, Round 7 of the Cooperative Research Centres Project grants, click here.