general discussion, page-1343

A bit of reading for those inclined, regarding the NEW and revised 2023 Critical Minerals Strategy ....

Critical minerals roundtables with industry and community groups

By Luwela .R -February 25, 2023

Minister for Resources and Northern Australia Madeleine King met with key industry and community organisations to explore how to best promote Australia’s critical minerals sector and maximise benefits across the country.

Minister King hosted two roundtables on critical minerals in Perth, where he heard from prominent resource firms, First Nations leaders, and research organisations as part of the discussions on the Australian Government‘s new Critical Minerals Strategy.

According to Minister King, the roundtables explored how governments might help attract investment and support the development of critical minerals projects.

“Critical minerals represent the next great leap in mining, and Australia has an opportunity to add even more value to our world-class mining sector by capturing the benefits of the transition to net zero and by moving into downstream processing,” Minister King said.

Minister King stated that the world would require the Australian resources industry and critical minerals to decarbonise.

“Just like the iron ore revolution of the 1960s and growth of the LNG industry in recent decades, Australia’s prosperity and our jobs of the future will rely on decisions we take now to support the development of our critical minerals industry,” Minister King added.

According to the Minister, there will be no net zero without the resources industry.

Critical minerals are significant elements of low-emissions technologies such as storage batteries, electric vehicle motors, solar panels, and wind turbines.

According to Minister King, the demand for critical minerals is steadily increasing. The International Energy Agency projected that by 2040, the demand for minerals for use in batteries and electric vehicles might increase at least 30 times. By 2040, the demand for lithium may increase by more than 40 times, while that for graphite, cobalt, and nickel may increase by 20 to 25 times.

Minister King stated that the new Critical Minerals Strategy would focus on the Government’s aim to grow the industry and ensure that all Australians capture the benefits.

Representatives from the Minerals Council of Australia, Indigenous Women in Mining and Resources, and resource companies such as Glencore, Rio Tinto, BHP, Iluka, and Lynas were among those who attended the roundtables.

https://www.australianmanufacturing.com.au/critical-minerals-roundtables-with-industry-and-community-groups/

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In addition

I had a look at how the NEW Critical Minerals Strategy is progressing. Submissions for the discussion paper closed on the 3rd February 2023.

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The Australian Government is developing a new critical minerals strategy. The strategy will outline our priorities for the development of the critical minerals sector, including how Australia can create economic opportunities across the nation, including in our regions, and seize the opportunities of the net zero transformation.

The strategy will help Australia:

add value to our resources

grow our domestic downstream processing and manufacturing industries

support decarbonisation.

The new strategy will reflect:

the important role our critical minerals can play in helping Australia and international partners achieve their emissions reduction targets

the imperative to bring Australian projects online quickly to support diversified critical mineral supply chains and markets

the growth of domestic manufacturing and industrial sectors

Australia’s ongoing commitment to the highest environmental social and governance (ESG) standards.

https://consult.industry.gov.au/2023critminsstrategy

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I found a heap of companies and some universities that made submissions to the NEW Critical Minerals Strategy.

For those who wish to read some, google
(2023 critical minerals submission)

I cannot find a clear indication of when the new strategy will be released but the strategy will be delivered sometime in 2023 according to reports. The Australian Government is fast tracking the strategy as according to one article, the global window of opportunity for critical minerals requires urgent action to ensure Australia's place as a major supplier.

It would have been good for LMG to make a submission but it certainly does not rule out LMG achieving significant project support in due course.

Magnium will achieved the grant of $23m according to sources I have investigated and as I have said before, they are at a similar stage to LMG but have tremendous support from the WA Government.

David Paterson has said multiple times that LMG are well positioned for support once the demonstration plant is operating and proving metrics. I will be keeping a keen eye out for the next developments in this area.

Ken