Australia and Canada target ‘high standards’ critical minerals

Australia and Canada signed a joint declaration of intent on critical minerals collaboration at the G7 Energy and Environment Ministers’ Meeting.

The agreement will see the countries promoting and strengthening cooperation and trade in critical minerals value chains.

Other objectives include advancing projects of mutual interest, encouraging commercial partnerships and research collaborations and addressing policy challenges faced by producer nations.

This follows last week’s announcement of a US-Australia Framework for Securing Supply in the Mining and Processing of Critical Minerals and Rare Earths, which will support a $13b (US$8.5b) pipeline of projects.

Both countries will work to ensure that emerging standards-based markets capture the unique challenges that producers of high standards critical minerals – like Australia and Canada — face.

Federal Resources Minister Madeleine King says Canada, like Australia, holds some of the world’s most significant critical minerals and rare earths reserves.

“Our national governments have long worked together on resources sector development,” she said.

“I am delighted to continue this important partnership with my counterpart, Tim Hodgson, Minister for Energy and Resources.

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

“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.

“I look forward to working with Canada to build resilient supply chains that support innovation and economic growth.”