The House of Representatives Standing Committee on Primary Industries will hold its first public hearing today (26 March) in Canberra, as part of an inquiry into factors shaping social licence and economic development outcomes for critical mineral projects across Australia.
Meryl Swanson, committee Chair, says critical minerals are a cornerstone of the modern economy – critical to developments in artificial intelligence, defence and renewable energy.
“They present enormous opportunities for Australia, but also real challenges,” Swanson says.
“Ensuring the social licence of critical mineral projects will be key to maximising benefits while minimising impacts.”
The committee will hear from the Department of Industry, Science and Resources (DISR), whose recent submission highlights the role of critical minerals within the Australian Government’s $22.7 billion Future Made in Australia (FMA) plan.
In the submission, DISR highlights the potential growth from increasing raw exports of critical minerals, and the future opportunities in expanding downstream refining and processing.
Australia’s FMA agenda is targeted to address the major structural and strategic challenges that the national economy faces. The priorities include the net zero transformation stream and the economic resilience and security stream.
As of 2024, the federal government considered 31 resource commodities to be critical minerals. These have been selected by assessing Australia’s geological endowment and potential with global technology needs, particularly those of partner countries such as the US, EU, India, Japan, South Korea and the UK.
Write to Aaliyah Rogan at Mining.com.au
Images: iStock
