Australia and Japan have signed a new partnership on critical minerals to help build secure supply chains for critical minerals, which are crucial elements of clean energy technologies needed to help both countries meet net-zero commitments.
The new Critical Minerals Partnership was signed by Minister for Resources and Minister for Northern Australia Madeleine King and Hirohide Hirai Japan’s Vice Minister for International Affairs, Ministry of Economy, Trade and Industry, during the Australian visit of Japan’s Prime Minister Kishida.
The partnership will establish a framework for building secure critical minerals supply chains between Australia and Japan, and promote opportunities for information sharing and collaboration, including research, investment and commercial arrangements between Japan and Australian projects.
The partnership will support the further development of Australia’s critical minerals sector, to ensure Japan has the supply of critical minerals required for its advanced manufacturing sector.
Minister King said the new partnership underlined the ongoing strength of Australia’s deep ties and ongoing trade relationship with Japan and would build on existing trade supply chains.
“This new partnership will be a welcome boost to Australia’s critical minerals sector and will help Australia further develop its abundant reserves of critical minerals which will ultimately help both countries achieve their emissions reductions targets,” Minister King said.
“The partnership will help to open up more foreign investment in our critical minerals sector, and will increase collaboration between our two counties on the development of critical minerals.”
Australia has some of the world’s largest reserves of critical minerals, including rare earths, which are crucial components of clean energy technologies such as batteries, wind turbines, electric vehicles, solar panels and hydrogen electrolysers.
Minister King said the partnership was a natural progression of Australia’s long-established role as a stable and reliable supplier of minerals and energy to Japan, and underlined Australia’s growing role as a global supplier of critical minerals.
“The new partnership will help drive the development of Australia’s critical minerals sector and promote more foreign investment into crucial projects which will mine, develop and process these essential minerals,” Minister King said.
“The Australian Government is working with our international partners, state and territory governments and industry to position Australia as a world leader in exploration, extraction, production and processing of critical minerals.
“These resources not only support Australia’s standard of living, they will pave the way to a clean energy future for Australia, for Japan and for the world.”