At Minerals Week 2026, taking place in Canberra this week, Resources Minister Madeleine King today noted that Australia will undoubtedly set a floor price in its strategic reserve for critical minerals.
These comments come as Australia establishes itself as a key supplier of critical minerals to allied nations, and on the back of the recent Free Trade Agreement signed this week between Australia and the European Union, as reported by Mining.com.au.
A landmark agreement was also signed with the US in October 2025, supporting a pipeline of projects across the critical minerals and rare earths space valued at $13 billion.
“We are developing a strategic reserve. And that will no doubt have an element of a price floor as well,” King said in her speech.
King notes that the government plans to consult with the industry on pricing, noting that prices need to reflect the cost of production as well.
In January 2026, the Australian Government announced details of its $1.2 billion Critical Minerals Strategic Reserve (CMSR), which will help to secure the supply of key minerals vital for Australia’s economy, national security, and Future Made in Australia ambitions.
King adds that the government needs to be prepared to financially back critical minerals projects in the short term in order to establish Australia as a key supplier within the global supply chains.
In January 2026, OD6 Metals (ASX:OD6) confirmed a contributing role in the industry-led framework supporting Australia’s Critical Minerals Strategic Reserve, advanced by the Association of Mining Exploration Companies (AMEC).
The concept paper being developed outlines a strategic policy framework to demonstrate how a sustainable and bankable CMSR solution can be structured.
OD6 is processing a portfolio of critical minerals in Western Australia, with a focus on rare earth elements and value-add pathways for national and global supply chain needs.
Minerals Week is a conference by the Minerals Council of Australia (MCA) and runs from 23-25 March 2026.
Write to Amy Rotman at Mining.com.au
Images: OD6
