Austrade releases new digital, dynamic critical minerals prospectus as King & Cook host Korea in Perth
The Federal Government has released a new digital Australian Critical Minerals Prospectus, featuring an interactive map and showcasing more than 55 investment-ready projects across the country.
This new online tool by Austrade can be customised to navigate Australia mineral endowment and a range of available government support, including potential funding for Australian critical minerals projects.
One of the investment-ready projects featured in the prospectus is Ardea Sources’ Kalgoorlie nickel project Goongarrie Hub.
Federal Resources Minister Madeleine King comments on this.
“Critical minerals are vital for the global efforts to reduce emissions and becoming increasingly important inputs for the defence industry,” she said.
“Australia’s resources industry has been developed with foreign investment, and we need overseas investment to build our critical minerals industry.
“This new online Australian Critical Minerals Prospectus will help drive investment into the sector.”
Federal Trade and Tourism Minister Don Farrell says this prospectus will help Australia attract investment for new industries, create more jobs and become a renewable energy superpower.
The Federal Government is also incentivising investment in critical minerals projects through a range of programs, including the $4b Critical Minerals Facility and the recently announced $7b Critical Minerals Production Tax Incentive.
King and Cook host Korea in Perth
Earlier this week, Minister King welcomed the Republic of Korea’s Trade Minister Dr Cheong Inkyo to Perth, WA, for the 10th anniversary of the Korea-Australia Free Trade Agreeement Joint Committee Meeting and the Annual Trade Ministers’ Meeting.
The Republic of Korea is Australia’s fourth largest trading partner, with two-way trade amounting to $71b in 2023, supporting almost 165,000 Australian jobs and contributing about $51b to the country’s economy.
Discussions were around further cooperation and collaboration between both countries on sectors pertaining to hydrogen, green metals and critical minerals.
“Australia has been a long-term and reliable supplier of resources to the Republic of Korea,” Minister King said.
“We look forward to strengthening our partnership through collaboration on critical minerals supply chains, cooperation on carbon capture and storage (CCS), and by boosting regional competitiveness in clean energy technologies.”
WA was successful in its bid with Business Events Perth to host the 45th Australian-Korea Business Council (AKBC) and Korea-Australian Business Council (KABC) Joint Meeting
WA Premier Roger Cook comments on this.
“Western Australia and South Korea have a strong economic relationship which supports local jobs across the State,” he said.
“We see real opportunities to grow our trading partnership, as part of my plan to position WA as a global renewable energy powerhouse.
“It is a privilege to be able to host the annual AKBC and KABC Joint Meeting, to progress new opportunities between our regions and put our State on show for the visiting delegation.”