The Australian Government’s announcement today to prioritise Cooperative Research Centre grants for critical minerals projects is a positive step for the Australian economy and regional communities.
World demand for critical minerals such as lithium, cobalt, copper and rare earth elements is growing at rapid rates as we develop new energy systems, use more advanced electronics and switch to alternative forms of transportation like electric vehicles.
Australia has substantial resources of the minerals that support these emerging technologies, and the government’s investment is a welcome initiative to support the next wave of new mining projects in Australia.
But this opportunity is not guaranteed as Australia faces strong competition from emerging mining regions to attract investment.
Australia’s reputation as a stable, low-cost place to do business must be restored if we are to become a reliable supplier of critical commodities to the world.
Government policy reforms must deliver modern workplace rules, an internationally-competitive company tax rate, reliable low-cost energy and streamlined regulatory approvals so Australia can secure investment in the mines of the future.