Australia Announces Critical Minerals for Strategic Reserve

Australia will create a A$1.2 billion strategic reserve to buy rare earths, antimony and gallium from domestic miners, the government said, aiming to strengthen supply chains and reduce reliance on dominant foreign suppliers.

Australia will buy and stockpile critical minerals from domestic mining companies as part of a new strategic reserve. The government said the reserve will initially target rare earth elements, antimony and gallium and is backed by A$1.2 billion in funding. Officials described the move as a way to strengthen global supply chains and reduce reliance on dominant foreign suppliers. Key facts: - The government announced a A$1.2 billion stockpile focused on rare earths, antimony and gallium. - The announcement came in a joint statement by Treasurer Jim Chalmers, Resources Minister Madeleine King and Trade Minister Don Farrell. - The article reports the reserve is intended to offset China’s dominance in rare earths and to help establish a price floor to reduce market volatility. Summary: The reserve is presented as a government effort to strengthen supply chain resilience for minerals used in defence and advanced technologies, and to provide price support for producers. Undetermined at this time.