Industry outcry over revamped critical minerals list

The Association of Mining and Exploration Companies accuses the Federal Government of missing the mark completely with an updated critical minerals list released today. The government has added fluorine, molybdenum, arsenic, selenium and tellurium to the list and removed helium. It has also introduced a strategic materials list identifying commodities essential for the energy transition, but which are not viewed as being at risk of supply chain disruptions. This will include copper, nickel, aluminium, phosphorous, tin, and zinc, which the government described as having well-established industries, greater global market depth, clearer price transparency, and stable supply chains. AMEC chief executive Warren Pearce described the expansion of the Commonwealth’s critical mineral list as a wasted opportunity. "Instead of expanding Australia’s critical minerals list to include nickel and copper, they have missed the mark completely,” Mr Pearce said. “That’s not to say, that these additional minerals (that were included) aren’t important. Of course they are. But in terms of the economic opportunity for Australia that these minerals represent, it is relatively small. “The potential opportunity and value for Australia for developing large nickel and copper projects, and local down-streaming to go with them, is immense.” Industry is projecting that the demand for nickel will be almost four times higher than current production by 2050. Copper demand is expected to double before 2050. AMEC said being kept off the critical minerals list meant that nickel and copper projects would not be eligible to access programs like the $4 billion Critical Minerals Facility, to support the financing and development of projects. Resources Minister Madeleine King said the changes followed extensive consultations with industry, the public, and states and territories. In addition to the lists revealed today, Ms King announced a Strategic Critical Minerals Hubs feasibility study. This will explore where Commonwealth and state and territory governments could support critical minerals infrastructure precincts producing commodities likely to become subject to supply chain disruptions. “The updated critical minerals list and the new list of strategic materials will help government focus on those commodities needed to create jobs, keep us secure and power our economy," Ms King said. “These minerals are critical to the greening of our economy and the defence of Australia and our allies. Resources Minister Madeleine King. “The critical minerals list and strategic minerals list will be updated on an as-needed basis, as economic and geostrategic dynamics evolve. “Australian copper, nickel, aluminium, phosphorous, tin and zinc will be vital to the world’s energy transition, which is why for the first time ever we have articulated their economic and strategic importance by creating the new strategic minerals list. “Australia is well placed to meet increasing global demand for minerals, with large endowments, technical expertise and established resources supply chains.” The Australian Aluminium Council has welcomed the recognition that aluminium will continue to be one of the most widely used commodities in the global transition, with its inclusion on the new strategic materials list."Under the right policy settings, the aluminium industry can continue to play a central role in Australia’s economy, national security and manufacturing of modern technologies," chief executive officer Marghanita Johnson said. Below: Australia’s Critical Minerals List. Use slider at bottom of chart to navigate across columns. Critical mineralOn US listOn EU listOn India listOn Japan listOn Republic of Korea listOn UK listAustralian geological potentialAustralian economic demonstrated resources (2022)Australian production (2022)World resources (2022)Global production (2022)High-purity AluminaNoNoNoNoNoNoHighHPA ore: 16,700 kt0No dataNo dataAntimonyYesYesYesYesYesYesModerate139.4 kt2.3 kt1,800 kt110 ktArsenicYesYesNoNoNoNoModerateNo dataNo dataNo data61 ktBerylliumYesYesYesYesNoNoModerateNo dataNo dataNo data280 tBismuthYesYesYesYesYesYesModerateNo dataNo dataNo data20 ktChromiumYesNoNoYesYesNoModerate00560,000 kt41,000 ktCobaltYesYesYesYesYesYesHigh1,742 kt5.8 kt8,480 kt185 ktFluorineYesYesNoYesNoNoModerate343 kt0126,000 kt4,000 ktGalliumYesYesYesYesYesYesHighNo dataNo dataNo data550 tGermaniumYesYesYesYesNoNoHighNo dataNo dataNo dataNo dataGraphiteYesYesYesYesYesYesModerate8,500 kt0332,000 kt1,300 ktHafniumYesYesYesYesNoNoModerate14.5 ktNo dataNo dataNo dataIndiumYesNoYesYesYesYesModerateNo dataNo dataNo data900 tLithiumYesYesYesYesYesYesHigh7,046 kt75 kt27,000 kt143 ktMagnesiumYesYesNoYesYesYesHighMagnesite: 284,000 ktMagnesite: 500 ktMagnesite: 6,800,000 ktMagnesite: 25,000 ktManganeseYesYesNoYesYesNoHighManganese ore: 496,000 ktManganese ore: 4,500 ktManganese content: 1,716,000 ktManganese content: 18,700 ktMolybdenumNoNoYesYesYesNoModerate687 kt0.28 kt12,200 kt250 ktNiobiumYesYesYesYesYesYesUnknown (interpreted moderate)[216 ktNo dataOver 17,000 kt79 ktPlatinum-group elementsYesYesYesYesYesYesModerate359.3 t0.492 t71,269 t400 tRare-earth elementsYesYesYesYesYesYesHigh5,700 kt16 kt127,000 kt300 ktRheniumNoNoYesYesNoNoUnknown (interpreted moderate)157 tNo dataNo data58 tScandiumYesYesNoNoNoNoHigh36.65 kt0No dataNo dataSeleniumNoNoYesYesYesNoUnknown (interpreted moderate)No dataNo data81 kt3.2 ktSiliconNoYesYesYesYesYesHighNo dataNo dataNo data8.8 ktTantalumYesYesYesYesYesYesHigh110 kt0.1 ktNo data2 ktTelluriumYesNoYesYesNoYesUnknown (interpreted moderate)No dataNo data32 kt0.64 ktTitaniumYesYesYesYesYesNoHighIlmenite: 303,300 ktRutile: 39,000 ktIlmenite: 700 ktRutile: 200 ktIlmenite: 1,106,600 ktRutile: 55,900 ktIlmenite: 14,900 ktRutile: 600 ktTungstenYesYesYesYesYesYesHigh568 kt0.23 kt3,800 kt84 ktVanadiumYesYesYesYesYesYesHigh8,510 kt026,700 kt100 ktZirconiumYesNoYesYesYesNoHighZircon: 88,300 ktZircon: 500 ktZircon: 115,300 ktZircon: 2,200 kt

Industry outcry over revamped critical minerals list

Industry Queensland

Related News

Queensland engineering excellence honoured

Charters Towers gold assets on the market

AI-powered portal to support manufacturers

Get access to breaking mining news, now.