Australia Declares Strategy for 24 Key Minerals Including Tungsten And Cobalt

News from the natural resource department, according to the report of foreign media, Australia published <Australia Key Minerals Strategy 2019> recently. It aims to become a major mineral supply country supporting the development of agriculture, aerospace, national defense, renewable energy and communication industries, and become the world's leading major mineral exploration, development, production and processing country.

This report lists 24 key minerals, including lithium, gallium, titanium, chromium, manganese, vanadium, cobalt, tungsten, lanthanum, cerium, magnesium, platinum group metals, lanthanum, cerium, lanthanum, zirconium, rare earths, lanthanum, cerium , indium, antimony, bismuth, antimony and graphite.

Matt Canavan, Australian Resource and North Australian Affairs Minister, believes that global demand for key minerals is rising, which provides an important opportunity for Australia's economic development. Australia's key mineral resources are abundant, and the government strongly supports the mining industry and can become an important supplier in the world. Increasing investment in key mineral exploration and development is conducive to Australia's economic growth and can increase employment opportunities. To this end, Australia will implement the “3I” strategy, namely investment, innovation and infrastructure.

Australian Tourism and Investment Minister Simon Birmingham said Australia will seize the opportunity for rising global demand for key minerals. He believes that Australia's key mineral reserves are among the highest in the world, some of which, such as the lithium market is relatively mature, Australia is already the world's largest lithium producer. But other minerals, such as cobalt, have not yet been developed and have great potential. Australia needs to develop downstream industries such as processing and manufacturing. Key minerals are important for defense, space, energy and advanced manufacturing. For Australia, these industries also have a lot of room for development. The challenge for Australia in the future is how to attract domestic and foreign investment to develop key mineral projects and take the mining industry to the next level. This is also one of the purposes of the release of the key mineral strategy.

Birmingham appealed to the relevant departments to work together to promote investment in key mineral exploration, development and processing projects, fully tap the key mineral potential of Australia and promote economic development.

In 2018, US President Trump signed an executive order to publish 35 mineral catalogues of great importance to the United States. In December, Kanawan announced that Australia has 14 key minerals that are scarce or not produced in the United States, including lithium, gallium and titanium. Based on the key minerals cooperation memorandum signed by the two countries and the key mineral exploration, development, smelting and research cooperation agreement, Australia will increase key mineral exports to the United States.

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