Joint media release with Minister for Trade and Tourism, Senator Don Farrell.

Australia and the European Union (EU) have agreed to work more closely together to strengthen the supply of critical minerals which is key to achieving the transition to net zero.

A Memorandum of Understanding was signed today by Minister for Trade and Tourism, Senator Don Farrell, Minister for Resources and Northern Australia, Madeleine King, EU Executive Vice President and Commissioner for Trade, Valdis Dombrovskis, and EU Commissioner for the Internal Market, Thierry Breton.

This close partnership provides a platform for deeper links between Australia and European Union critical and strategic materials supply chains, greater science, technology and innovation collaboration, and the development of environmental, social, and governance (ESG) standards.

The partnership follows the recent implementation of the EU’s new Critical Raw Materials Act, which creates new opportunities for the Australian mining and manufacturing sectors, as well as the essential workers in these industries.

Details of the Australia-EU strategic partnership on sustainable critical and strategic minerals is available on the Department of Industry, Science and Resources website.

Quotes attributable to the Trade & Tourism Minister, Don Farrell:

“Australia has some of the largest deposits of critical minerals on earth – minerals that are necessary parts of everything from electric vehicles to wind turbines. 

“Our partnership will encourage investment from the EU into Australian renewable energy projects, including the local manufacturing industry boosted by the Albanese Labor Government’s $22.7 billion Future Made in Australia package.

“Investment from our international partners is vital to achieving Australia’s full potential as a Renewable Energy Superpower – and helps create more secure well-paid jobs for Australians.” 

Quotes attributable to the Federal Minister for Resources Madeleine King:

“Australia’s Critical Minerals Strategy and the Future Made in Australia ambition aims to establish Australia as a clean energy superpower by 2030.

“Australia has the critical minerals, well established global supply chains and high environmental and social governance standards that support the development of our critical minerals sector.

“Those advantages will be crucial to help develop and grow the low-emissions technologies that will help the world to lower emissions and to help Australia and our export partners achieve our climate commitments.

“The clean energy transition will ride on the back of Australia’s critical minerals.”