EQ Resources signed MOU with Masan, page-13

Below is a transcript of speech by Madelaine King, Minister for Resources, today in Darwin re Critical Minerals

Following the Ministers recent engagements in Perth last week, including the signing of an MOU betwen EQR, Cronimet and Masan Hi-Tech, its great to know that we are right there in the inner circle. One would hope that the Ministers revised Critical Minerals Strategy document, to be released later in the year, will be of particular interest to EQR shareholders.

https://www.minister.industry.gov.au/ministers/king/speeches/speech-aspi-darwin-dialogue

Resources MinisterMadeleine King says Australia is uniquely placed to overcome China’s“unchallenged” control over critical minerals supplies by “moving up the valuechain” to process more of the resources onshore.

In a speech to be delivered to a critical minerals dialogue with key partners on Thursday, Ms King will say “highly concentrated” critical minerals supply chains present a strategic challenge for Australia and its allies but given Australia’s vast critical minerals resources, “it also presents a once in a generation opportunity for Australia”.

“Working together, like-mindedpartners can build new, diverse, resilient and sustainable supply chains aspart of a global hedge against concentration,” Ms King will tell the AustralianStrategic Policy Institute’s Darwin Dialogue on critical minerals.

“Diversity … is an intrinsicgood and in the interest of all nations.” Critical minerals including lithiumand rare earth metals are vital inputs to key technologies including renewableenergy, electric vehicles and defence equipment such as guided missiles.

The “1.5 track” ASPI dialoguewill bring together experts and government officials from Australia, the US,India, Japan and The Netherlands. The upcoming speech follows that of DefenceMinister Richard Marles at ASPI’s Sydney Dialogue last week, in which he saidAustralia needed to be at the cutting edge of new scientific advances. Ms King will say critical minerals are “the most basicbuilding blocks of those technologies”, and China has stolen a march on theWest in developing the key resources.

“The scale of China’smanufacturing and demand has played a key role in driving down the cost ofcrucial technologies like solar cells, rechargeable batteries, and electricmotors,” she will say. Yet Australia is in “anexcellent position” to break China’s stranglehold on critical minerals supplies, Ms King will say, citing US and Japanese support for Australian critical minerals player Lynas Rare Earths, and noting a recent off-take agreement between Australian company Arafura Resources and Germany’s Siemens Gamesa Renewable Energy. She will also refer to recent agreements with Germany, Britain and India to work on critical minerals projects.