Australia needs to break its reliance on China’s minerals but it’s not clear if we can develop or expand at competitive scale, cost and speed.
– from ambitious small explorers to large, established businesses – reflects rampant enthusiasm about this decade’s version of a resources boom, supposedly coated in green credentials.Resources Minister Madeleine King can’t say often enough that the road to net zero runs through the resources sector – although she is more discreet about it as the road to new US defence technologies.
Bauxite, similarly, is important for alumina and aluminium production but also for leaching some rare earth metals and as a primary source of gallium – exports of which have been restricted by the Chinese from August 1. Although not traded in big quantities, gallium is important for production of high-speed semiconductor chips and various defence applications, radio communication devices and electric vehicles.
The government’s much vaunted critical minerals strategy released in June ended up more an academic exercise outlining high-level goals as a “framework”. There were few plans to achieve these goals beyond $500 million from the Northern Australian Infrastructure Fund and requesting submissions on updating the critical minerals list.
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