https://theconversation.com/albanese-government-announces-1-2-billion-plan-to-purchase-critical-minerals-254994"The government would acquire, through voluntary contracts, agreed volumes of critical minerals from commercial projects, or establish an option to purchase them at a given price.
It would also establish a government stockpile of key minerals produced under offtake agreements.
“The primary consideration for entering into offtake agreements will be securing priority critical minerals for strategic reasons,” the government said in a statement.
“The Strategic Reserve will also accumulate stockpiles of priority minerals when warranted by market conditions and strategic considerations, but it is anticipated that these will be modest and time-limited in most cases.”
The government would make an initial investment of $1.2 billion in the reserve, including through a $1 billion increase in the existing Critical Minerals Facility. This would take the government’s investment in the facility to $5 billion.
The facility, established in 2021, provides financing to selected projects that are aligned with the government’s critical minerals strategy"
One would think that companies who have conditional approval for loans under the critical minerals facility established in 2021, like RNU, would be the first companies chosen under this reserve initiative.
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