The Western Australian Government and Italy’s export credit agency, Servizi Assicurativi del Commercio Estero (SACE), have signed a memorandum of understanding (MoU).
Under the MoU, both parties will foster new trade and investment opportunities for Western Australian and Italian businesses and support cooperation across the critical minerals value chain.
Western Australian companies currently operating in Italy feature in mining, defence industries, energy, construction, and technology sectors.
WA Premier and Tourism, Trade and Investment Minister Roger Cook says as demand for critical minerals continues to grow globally, WA is focusing on developing secure, resilient, and sustainable supply chains.
“Western Australia is uniquely positioned to play a leading role in the global energy transition, and international partnerships such as this with SACE are critical to supporting that ambition,” Cook says.
Supporting Europe’s supply chain
Europe consumes a substantial share of global mineral resources. However, the continent’s domestic production of many critical raw materials remains limited.
For example, the bloc consumes 25% of global raw materials, while only producing 3%, as previously reported.
As such, the MoU between WA and Italy could provide an opportunity for Europe to strengthen its supply security.
One Australian explorer and developer focusing on critical minerals in Italy is Altamin (ASX:AZI).
The company’s Lazio Project is located within the Cesano geothermal field in Italy. This area is a well-understood caldera geological setting with a deep geothermal reservoir. It is prospective for sulphate of potash, lithium, and boron.
Key activities are progressing, including test work and technical studies.
The company’s Gorno Project, located in the Lombardy region of Italy, is prospective for zinc, lead, and silver.
Gorno is considered an advanced-stage brownfield mine redevelopment project. The project has a rich legacy of historical mining activity and benefits from existing infrastructure.
Altamin aims to extract and process the ore to meet the growing demand for zinc and lead concentrates for delivery to smelters and offtake customers in Europe.
Meanwhile, the Punta Corna Project, located in northern Italy’s Piedmont region, is prospective for cobalt, nickel, copper, and silver.
Altamin says the next potential phase at Punta Corna, if advanced, would include field and airborne reconnaissance, alongside drilling.
International Graphite (ASX:IG6) is also progressing its planned graphite processing hub in Italy, with its joint venture partner Alkeemia.
The company is preparing to begin pilot plant commissioning at the end of this year.
International Graphite has committed to 50% of the capacity of Alkeemia’s 200-tonne-per-year graphite purification pilot plant, where equipment installation is complete and final electrical works are nearing completion.
Write to Aaliyah Rogan at Mining.com.au
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