NSW develops new critical minerals strategy
The NSW Government has begun consultations as it develops a new critical minerals and high-tech metals strategy.
This strategy is a crucial document that provides the framework for the critical minerals and high-tech metals mining industry. It will provide certainty and direction for the industry as it continues to grow and will include a sharper focus on domestic manufacturing, skills and training opportunities.
Discussions on the new strategy will outline new opportunities to:
- Create more local jobs by encouraging domestic processing and manufacturing of products with significant critical minerals inputs.
- Develop skills and training opportunities to reinforce the state’s unique mix of deposits and its natural competitive advantages.
- Further encourage greenfield critical minerals exploration across NSW.
- Examine the economics of the industry and the best way to leverage the government’s purchasing power to ensure investment growth.
- Create additional certainty for the industry and support NSW’s environmental, social and corporate governance position.
- Attract investment for innovation, research and development.
- Entrench NSW’s role as a preferred supplier of critical minerals to global trading partners.
NSW has an abundance of critical minerals and high-tech metals, including 17 of the 26 nationally identified critical minerals. Copper, silver and scandium are abundant in NSW and are crucial components in the products that will ensure the state realises its goal of net zero emissions by 2050.
NSW Natural Resources Minister Courtney Houssos said the strategy will ensure NSW is able to realise the gains of the next mining boom.
“NSW is uniquely positioned to support global supply of critical minerals with our diverse mix of critical mineral and high-tech metal deposits and capacity to promote domestic processing and manufacturing,” she said.
“We will establish a clear framework on how the government can support the exploration and mining of critical minerals and high-tech metals in NSW.
“Our ability to leverage the state’s natural abundance of materials to create employment opportunities and economic growth will be the best measure of our success.”
The NSW Government will now conduct a series of consultation meeting with key stakeholders, including mining companies, industry representatives, workers and investors. The consultation period will run until November 17th, 2023.
Solar technology company SunDrive is looking to create a contact solar technology free of silver as solar consumers 20% of the world’s annual industrial silver.
SunDrive chief executive Vince Allen said NSW has the potential to become a world-leading manufacturer of critical minerals and high-tech metals.
“NSW has the potential to become a world-leading manufacturer of product that leverage critical minerals and high-tech metals,” he said.
“By building out a local solar manufacturing industry, we can help shape the future of net zero for NSW, Australia and the world.
“Promoting a strong supply of critical minerals — like the copper at the core of SunDrive’s technology — is crucial to realising this ambition.”
On August 17th, 2023, the Federal Government closed the consultation period to update the country’s critical minerals list. This new strategy sets out a plan to establish Australia as a global supplier of raw and processed critical minerals by 2030.