Australia Repackages Its Mining Industry
The Mineral Council of Australia is touting its lynchpin role in supplying the next generation of metals needed to make more batteries and electronics.
In a study published Friday, the council emphasized the country's ability to be "reputable," "reliable" and "stable" as it supplies the world with critical metals, such as graphite, lithium and rare earth elements."Australia has built its mining industry on a reputation for smart, sophisticated, sustainable exploration, mining and minerals processing – from bulk commodities like iron ore, coal and bauxite to metals like gold, copper and nickel and increasingly critical metals like lithium," said the Mineral Council of Australia in a news release.
"Critical minerals are already a multi-billion dollar industry in Australia, with many new projects at advanced stages of development that will soon be ready to support the world's growing needs."
The Mineral Council notes Australia has top three resource ranking for minerals such as cobalt, tungsten and vanadium. However, China has the majority market share for many critical metals, and concerns are mounting as trade tensions ratchet up.
Earlier this month, Australian defence minister Linda Reynolds touted Australia's ability to meet any rare earth supply disruptions and said her country is working with other western countries to guarantee supply.
"We are truly independent from China," CEO Amanda Lacaze told the Argus U.S. Specialty Metals conference.