Transforming Mount Isa’s future

Australia and Canada have signed a series of agreements regarding critical minerals, one of which grants Australia membership to the G7 minerals alliance.This week, Canadian Prime Minister Mark Carney met with Prime Minister Anthony Albanese, marking the first bilateral visit of a Canadian Prime Minister to Australia in nearly two decades, and outlined a series of partnerships between the nations in investment, defence and security, critical minerals, energy and artificial intelligence.Noting Australia and Canada’s combined strengths as major global critical minerals producers, both leaders committed to working more purposefully in partnership to advance mutual interests and build dynamic global critical minerals supply chains.The countries also committed to pursuing common positions on key critical minerals issues and to collaborate on shaping emerging markets in ways that reflect shared commitment to fair and open trade as well as high environmental and labour standards.This builds on the joint declaration of intent on critical minerals cooperation, signed by both countries in November last year, designed to strengthen supply chain resilience.During the visit, Canada welcomed Australia into the Critical Minerals Production Alliance — an initiative launched under Canada’s G7 presidency in 2025 to expand critical minerals production and processing capacity and diversify supply chains from mine to market.“We're looking forward to learning from … cooperating in strategic areas, such as critical minerals and financial services, where we are quiet powerhouses in and of ourselves,” Prime Minister Carney said.As part of the agreements, both nations will develop a Canada-Australia mining skills exchange pilot, in collaboration with industry stakeholders, academic institutions and government partners to address skills and labour shortages and ensure allied ability to expand critical minerals production.Minerals Council Australia chief executive Tania Constable says the agreements mark a new era in Australia and Canada’s enduring partnership.“We have a long history of prosperity for our people and communities being generated by a range of minerals, including traditional resources and most recently the addition of critical minerals that power the world and make modern life possible including telecommunications, health and defence,” she said.Recognising the significant security challenges associated with increasing geopolitical issues, Canada and Australia also agreed to enhance defence and security cooperation, including through the establishment of a biennial defence ministers’ meeting.“Our two nations share values. We share common interests as well,” Prime Minister Albanese said.“ shared ambition for Australia and Canada to do more together, at a deeper level. To build on our shared strengths, from our resources and critical minerals to defence technology.”

International Seabed Authority (ISA) Council negotiations have concluded without the adoption of an agreed upon deep sea mining code and without any mining approvals being granted.  The two-week negotiations exposed unresolved disagreements between participants on issues ranging from environmental safeguards and liability to inspection, compliance and benefit-sharing, with several governments raising major scientific, environmental and governance concerns.  ISA member states also supported the ISA’s legal and technical commission’s (LTC) inquiry and preliminary report into contractor non-compliance, which revealed that an ISA contractor may be in breach of its contract. The report also revealed the contractor may be in breach of its obligations to act in accordance with the multilateral framework under the United Nations Convention on the Law of Sea (UNCLOS). Deep Sea Conservation Coalition (DSCC) policy lead Emma Wilson says that if breaches are confirmed, contracts must be terminated. “Contractors cannot hold exploration contracts under the international system while simultaneously undermining it by seeking to mine unilaterally,” she said. “The ISA’s response to threats of unilateral mining is a critical test for the authority.” The inquiry also comes amid concerns surrounding attempts to pursue unilateral deep-sea mining, including questions about the involvement of Nauru Ocean Resources (NORI), a subsidiary of The Metals Company.  DSCC legal advisor Duncan Currie says the inquiry goes directly to the ISA’s core responsibility to the deep seabed as the common heritage of humankind. “If companies attempt to bypass the Authority by pursuing mining through a unilateral national process, it would constitute an unauthorised appropriation of the global commons under the UNCLOS.” A full LTC report is expected at the July meeting, when NORI’s contract is due for extension. The DSCC continues to call on governments to adopt a moratorium on deep sea mining. 

Australia vies for global critical minerals investment Federal Resources Minister Madeleine King has launched the new Australian Critical Minerals Prospectus as she gears up to hold talks with the US in Washington this week.The prospectus highlights 49 mines and 29 midstream critical minerals processing projects ready for investment across Australia to draw international interest — creating jobs and new supply chains of critical minerals with partner nations.Minister King will represent Australia at the US-led critical minerals dialogue of ministers — hosted by US Secretary of State Marco Rubio — and will take part in an industry forum as part of efforts to secure critical minerals supply chains.The meetings support implementation of the Australia-US critical minerals and rare earths framework signed by Prime Minister Anthony Albanese and US President Donald Trump in Washington last year.Minister King says the meetings will be a chance to discuss Australia’s $1.2b critical minerals strategic reserve and the Federal Government’s wider support for the critical minerals and rare earths sector.“Australia has a responsibility to lead on the supply of critical minerals and rare earths globally,” she said.“Australia has the deposits and the know-how to develop critical minerals projects reliably, sustainably and at scale.”Critical minerals and rare earths projects are located in every corner of Australia and are vital for the production of clean energy, as well as for the defence industry.Last month, the Federal Government announced the critical minerals strategic reserve would initially focus on gallium, antimony and rare earths elements, which are crucial for clean-energy and high-technology manufacturing as well as advanced military equipment.Federal Trade and Tourism Minister Don Farrel says the new prospectus showcases midstream processing opportunities to international investors, attracting the investment needed to build a future made in Australia and create more high paying, secure jobs for Australians“Australia’s abundant deposits of critical minerals, alongside the expertise to extract and process those minerals, presents an invaluable economic opportunity that the Government stands ready to seize,” he said.Earlier this week, the US also unveiled a $17.2b strategic critical minerals stockpile, dubbed “Project Vault”, with aims of reducing industry reliance on China and protect manufacturers from supply disruptions.Given its dominant role in global manufacturing and processing, China is positioned to influence global industries regardless of where the raw minerals or metals were originally mined.Against a backdrop of shifting domestic policy and rising geopolitical tensions, the US-led critical minerals dialogue of ministers — which is expected to commence today — could foster international framework partnerships that have the potential to reshape both regional and global economies.