Australia's Critical Role in the Global Mineral Race

Critical minerals are essential for manufacturing technologies such as AI, EVs, and renewables, igniting global competition. Australia's vast reserves present both opportunities and challenges. Policies aim to shift from mining to refining these minerals. However, environmental concerns and geopolitical tensions with China add complexity to the situation.

The race for critical minerals is intensifying globally, with Australia's reserves of lithium, cobalt, and other essential elements positioning it as a key player on the world stage.

Prime Minister Anthony Albanese's visit to the White House underscores the strategic importance of these resources, particularly as China tightens export controls, challenging global supply chains.

Australia seeks to transform its critical minerals industry from merely extracting to refining and processing, fueled by government-backed initiatives and partnerships with international investors, despite challenges like environmental impact and reliance on overseas processing.

(With inputs from agencies.)