Australia, Canada sign new critical minerals deal

The Australian and Canadian resources ministers have signed a Joint Declaration of Intent on Critical Minerals Collaboration, which they say will “promote and strengthen cooperation and trade in critical minerals value chains” between the two countries. 

According to a statement from Australian resources minister Madeleine King on Saturday (Australian time), the declaration of intent signed by her and her counterpart Tim Hodgson also has objectives including: 

• Advancing projects of mutual interest; 
• Encouraging commercial partnerships and research collaborations; and
• Addressing policy challenges faced by producer nations.

King added that both nations possess some of the world’s most significant reserves of critical minerals and rare earths.

“As producing nations, it is important we collaborate to ensure both our communities and industry can benefit from growing demand for critical minerals,” said King.

“By working together, we can build secure, diversified and sustainable critical minerals supply chains.

“From defence applications to clean manufacturing, critical minerals are at the heart of the economic and national security of both our countries.”

The news follows a bilateral framework on critical minerals and rare earths signed by Australia and the United States last month.

Each country has its own list of critical minerals. Australia’s current list of 31 minerals and rare earths includes lithium, magnesium and zirconium. 

Picture: credit Commonwealth of Australia, CC-BY-3.0-AU 

Further reading

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