This extract from the AUST front page today also seems significant:
PM’s mission critical US call
STRATEGIC INVESTMENT TO BOOST MINERALS FOR ENERGY, TECH, DEFENCE
GEOFF CHAMBERS ADAM CREIGHTON WASHINGTON
Anthony Albanese will lift support to unlock Australia’s critical minerals deposits to $6bn, amid a high-stakes global contest to dig up, process and manufacture unprecedented volumes of minerals for clean energy, tech and defence products.
The US, EU, China, India, Gulf States and Southeast Asian economic powerhouses are clamouring for access to Australia’s vast critical minerals resources to achieve net zero emissions, diversify away from fossil fuels and drive new artificial intelligence and defence tech advancements.
In a major win for US President Joe Biden ahead of Thursday’s state dinner at the White House, the Prime Minister will on Wednesday (AEDT) announce his government is topping up its critical minerals financing measures by $2bn.
Mr Albanese, who will unveil the funding boost at a roundtable in Washington to be hosted by Resources Minister Madeleine King and US Secretary of Commerce Gina Raimondo, said “Australia is committed to building sustainable and secure critical minerals supply chains with the US”.
Mr Albanese, who is holding rolling meetings with key US congress members over the next three days to lock in legislative support for the AUKUS pact, has also given the green light to Australian legislation to streamline information and technology sharing arrangements with the US.
The new export control reforms will follow earlier legislation to prevent the unwanted transfer of sensitive Defence information to foreign militaries.
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Expansion of the Australia-US Climate, Critical Minerals and Clean Energy Transformation Compact, announced on the sidelines of the G7 Hiroshima summit in May, will help turbocharge the US clean energy boom fuelled by Mr Biden’s $US3 trillion Inflation Reduction Act.
With Australia boasting some of the world’s biggest deposits of lithium, cobalt, copper and nickel, Mr Albanese said his government was “committed to transforming Australia into a renewable energy superpower, and harnessing the critical minerals we have at home is crucial to achieving this”.
“Australians will benefit through this investment in critical minerals, through technology, skills, jobs and economic gains. Australia is committed to building sustainable and secure critical minerals supply chains with the US,” he said.
“This is central to building a clean energy future and delivering economic growth. The expansion of the Critical Minerals Facility will help to build supply chains with the US and support our shared clean energy, manufacturing and defence ambitions.
“We’re in strong position, as the world’s largest supplier of lithium, for example, a significant supply of cobalt, vanadium, copper, nickel. The minerals that will power the globe in the 21st century are things Australia has significant amounts of. And we want to work, as well, with US companies.”
Mr Albanese’s visit is being lauded by both countries as evidence of the nations’ “unbreakable alliance”, amid concerns about Chinese aggression in the Indo-Pacific, the threat of a wider war in the Middle East, Vladimir Putin’s stalemated invasion of Ukraine and deteriorating global economic conditions.
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While the state dinner invitation list has been held tight, senior US officials are expected to brief out details of the dinner and the guest list, which will include prominent business and community leaders, politicians, defence officials and celebrities.
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Business, banking and mining bosses have also arrived in Washington, including Macquarie Group chief executive Shemara Wikramanayake, BlueScope chief executive Mark Vassella, Westpac chief risk officer Ryan Zanin, Microsoft Australia-New Zealand managing director Steve Worrall, Business Council of Australia chief executive Bran Black and Australian Chamber of Commerce and Industry chief executive Andrew McKellar.
As industry leaders push for Australia to tap into Mr Biden’s multibillion-dollar clean energy investment, Mr Albanese on Wednesday will boost bilateral co-operation with the US to drive new investment and employment across Australia and US clean energy, manufacturing and defence supply chains. There is also increased focus on providing “responsibly produced and processed critical minerals” to meet global demand.
Ms King, who recently released a seven-year Critical Minerals Strategy, said the Australia-US taskforce on critical minerals had agreed on “priority areas of work and immediate actions such as joint supply chain mapping and deeper co-operation … on critical minerals”.
“The road to net zero runs through Australia’s resources sector,” she said. “The Australian government is providing significant support to de-risk investment in Australia’s critical minerals sector.”
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