The landmark agreement between the United States and Australia on the supply of critical minerals has received overwhelming support from the mining industry – with key bodies outlining the country’s fundamental role in global supply chains.
The Minerals Council of Australia (MCA) emphasised that the deal will help unlock the country’s vast critical minerals resources as well as strengthen defence and economic cooperation with “our closest ally”.
“Australia’s rich geology, strong mining and processing capabilities, and reputation for reliability and transparency make it a trusted partner in global supply chains, well positioned to meet the growing needs of our long-standing partners in Asia, the US and Europe,” MCA chief executive officer (CEO) Tania Constable said in a statement.
This sentiment is echoed by the Association of Mining and Exploration Companies (AMEC), describing the move as a “landmark step forward”.
“This new bilateral commitment opens a pathway to greater collaboration on the exploration, development, and processing of Australia’s critical minerals and rare earths,” AMEC CEO Warren Pearce said.
“It reflects a shared recognition of the vital role these materials play in powering clean energy technologies, day to day devices, and essential defence capabilities.”
South Australian Chamber of Mines and Energy (SACOME) has also welcomed the partnership, with the state set to directly benefit thanks to an agreement between the US and Nyrstar.
“SACOME is delighted to support Nyrstar’s announcement that their Port Pirie operations in South Australia is part of the pipeline of critical minerals projects being supported as part of the US-Australia framework development as it progresses,” SACOME CEO Nicola McFarlane said.
The agreement, signed by President Donald Trump and Prime Minister Anthony Albanese, will see a joint investment of $US2 billion over the next six months into different projects across Australia – an even split between Australia and the US.
The total package of investment will support a $US8.5 billion pipeline of critical minerals projects in Australia and the US.
Two projects in Australia are already benefitting from the partnership: Alcoa and Sojitz’s gallium recovery project in Western Australia; and Arafura’s Nolans project in the Northern Territory are earmarked to support international trade.
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