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Stephanie Convery
Australia and US announce slate of rare earths and critical minerals projects
The Australian and US governments have announced a tranche of rare earths and critical minerals projects that will be funded under a deal signed last year in the wake of increased restrictions on Chinese critical minerals exports.
The projects funded under the $5bn agreement will target the mining and extraction of nickel, cobalt, gallium, magnesium, vanadium and graphite.
The critical minerals framework was designed to break China’s near-complete hold over materials essential for renewable energy technology, electricity grids, advanced military hardware and other commercial goods.
Resources minister Madeleine King said in a statement on Monday:
double quotation markThese materials are crucial to defence systems, advanced manufacturing and clean energy technologies that will help Australia and the world meet net zero commitments.
Export Finance Australia (EFA) and the US Export-Import Bank (EXIM) were providing funding for the projects, including issuing coordinated letters of support/interest of up to a combined total of around $849m for Tronox Holdings rare earths refinery project, and up to $500m each for Ardea Resources’ Kalgoorlie nickel project, both in Western Australia.
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Prime minister says visits will help ‘ensure Australia’s energy supply’
Albanese said in a statement on Monday:
double quotation markEngaging with critical regional partners such as Brunei Darussalam and Malaysia will help ensure Australia’s energy supply remains secure during times of uncertainty.
We are taking every step to reinforce relationships and engage with key partners to keep our fuel supply flowing.
My Government is continuing to take every practical action to shield Australians from the impact of the war in the Middle East.
Wong said energy security was a “shared challenge” in the region:
double quotation markWe know that global supply challenges will be with us for some time, which is why we are focused on supporting Australians through this difficult period.
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Albanese to visit Brunei and Malaysia this week
Stephanie Convery
The prime minister, Anthony Albanese, and foreign affairs minister, Penny Wong, will visit Brunei and Malaysia this week as the government seeks to shore up Australia’s supply of diesel, fertiliser and other critical goods in the wake of shortages ccaused by the US-Israel war on Iran.
Albanese will travel first to Bandar Seri Begawan in Brunei on Tuesday for a meeting with the sultan, Hassanal Bolkiah, to discuss “energy, food security, and the flow of essential goods between our countries,” according to the PM’s office.
Brunei supplies 9% of Australia’s diesel imports, and 11% of Australia’s fertiliser-grade urea imports, while Australia exports food and agricultural products to Brunei.
In Malaysia, Albanese will meet the prime minister, Anwar Ibrahim, for similar negotiations, as Malaysia is Australia’s third-largest source of refined fuel and supplies 10% of Australian imports of fertiliser-grade urea, while Australia supplies 95% of Malaysia’s imported natural gas.
Wong will then travel separately to Singapore for meetings with her counterparts there.
Anthony Albanese visited Singapore last week. Photograph: Tom White/EPAShare
Updated at 23.25 CEST
Good morning
Good morning, and happy Monday. Nick Visser here to bring you the day’s news. Here’s what’s on deck:
The prime minister, Anthony Albanese, and foreign affairs minister, Penny Wong, will visit Brunei and Malaysia this week, the latest diplomatic visits meant to shore up Australia’s fuel supplies. Brunei supplies 9% of Australia’s diesel imports and Malaysia is the country’s third-largest source of refined fuel.
Australia and the US announced a slate of rare earths and critical minerals projects, including those that will support the mining of nickel, cobalt, gallium and other minerals.
The federal government has funded a helpline for paedophiles for the first time. It will consist of a free and anonymous phone helpline, a website and online self-help resources.
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