Australia and Japan have signed a new partnership on critical minerals to help build secure supply chains for critical minerals, which are crucial elements of clean energy technologies needed to help both countries meet net-zero commitments.
The new Critical Minerals Partnership was signed by Minister for Resources and Minister for Northern Australia Madeleine King and Japanโs Vice Minister for International Affairs, Ministry of Economy, Trade and Industry Hirohide Hirai during the Australian visit of Japanโs Prime Minister Kishida.
The partnership will establish a framework for building secure critical minerals supply chains between Australia and Japan, and promote opportunities for information sharing and collaboration, including research, investment and commercial arrangements between Japan and Australian projects.
The partnership will support the further development of Australiaโs critical minerals sector, to ensure Japan has the supply of critical minerals required for its advanced manufacturing sector.
Minister King said the new partnership underlined the ongoing strength of Australiaโs deep ties and ongoing trade relationship with Japan and would build on existing trade supply chains.
Top Australian Brokers
- eToro - market-leading social trading platform - Read our review
- IG - Extensive product array and user-friendly platforms - Read our review
- IC Markets - experienced and highly regulated - Read our review
- Avatrade - powerful trading tools - Read our review
โThis new partnership will be a welcome boost to Australiaโs critical minerals sector and will help Australia further develop its abundant reserves of critical minerals which will ultimately help both countries achieve their emissions reductions targets,โ Minister King said.
โThe partnership will help to open up more foreign investment in our critical minerals sector and will increase collaboration between our two counties on the development of critical minerals.โ
Australia has some of the worldโs largest reserves of critical minerals, including rare earths, which are crucial components of clean energy technologies such as batteries, wind turbines, electric vehicles, solar panels and hydrogen electrolysers.
Minister King said the partnership was a natural progression of Australiaโs long-established role as a stable and reliable supplier of minerals and energy to Japan, and underlined Australiaโs growing role as a global supplier of critical minerals.
โThe new partnership will help drive the development of Australiaโs critical minerals sector and promote more foreign investment into crucial projects which will mine, develop and process these essential minerals,โ Minister King said.
โThe Australian Government is working with our international partners, state and territory governments and industry to position Australia as a world leader in exploration, extraction, production and processing of critical minerals.
โThese resources not only support Australiaโs standard of living, they will pave the way to a clean energy future for Australia, for Japan and for the world.โ