Australia strongly supports the development and progress of key mineral industries

The development and processing of key minerals is largely related to the fate of the Australian economy, it is reported that the Australian government will promote the new budget to increase support for the country's key mineral industry, will invest 7 billion Australian dollars from 2027 for critical mineral processing drastic measures, in order to support the exploration and development activities of the Australian resource industry. The Australian government plans to invest around $600 million over the next decade in an effort to unlock and harness the potential of Australia's key mineral resources. Treasurer Jim Chalmers has described the key mining sector support measures in the new budget as a "golden opportunity". The Australian government wants to become a globally important source of production of key mineral raw materials and processed products.

The Australian government, with the help of strong international partnerships to research and innovate the sector, create diversified supply chains, and leverage its own wealth of key mineral resources, has a strong chance of becoming a renewable energy superpower. One of the reasons for this is that Australia's key mineral industry has unique advantages, cobalt, lithium, manganese, tungsten and vanadium and other key minerals, in Australia has the world's largest recoverable ground, Australia's most valuable key mineral export is light processing spoxene, accounting for 46% of the global lithium ore mining. These critical minerals are critical to modern technology, the economy, and national security. At the same time, 80% of the Australian continent is still unexplored, and there is huge potential. These minerals play an irreplaceable role in manufacturing, energy, transportation, communications and other fields. Therefore, the Australian government hopes that by supporting the key mineral industry, it can ensure its position in the global supply chain and provide stable resource security for the long-term development of the country.

The exploration, development and export of key minerals are an important part of the Australian economy and require a large amount of talent injection. The Australian government hopes to promote national economic growth by increasing support for the key mineral industry, and provide more people with employment opportunities and learning opportunities. The Australian government also works with a number of countries in the mineral industry to advance the progress and development of key mineral industries.

The third is national security and strengthening international cooperation. Australia's supply of key minerals is vital to the country's security. The Australian government hopes that by increasing support for the key mineral industry, it can ensure the stability of global supply and safeguard the national strategic interests. In addition, Australia is strengthening its relationships with international partners to further broaden its export channels for key minerals and improve its competitiveness in the global market. Australia, for example, now exports a lot of spodumene to China, and many of Australia's best-selling electric cars are imported from China. For more than 10 years in a row, China has been Australia's largest trading partner, its largest export destination and its largest source of imports. Australian economist Luo Zhen has pointed out: China is Australia's largest mineral, energy, agriculture and tourism market, in 2016 Australia ushered in Chinese investment, while bringing the world's leading processing technology, for Australia today's lithium industry boom, I can't think of two countries economically complementary than Australia and China.

The fourth is to ensure the supply of energy and raw materials, key minerals are an important part of the supply of energy and raw materials. Australia is the world's largest producer of lithium, third largest producer of cobalt and fourth largest producer of rare earths. By increasing support for the key mineral industry, Australia can ensure a stable supply of domestic energy and raw materials, reduce the dependence on external markets, thereby reducing risks and costs, and strengthen its position in the global supply chain to a greater extent, while also helping to improve the reliability and security of energy and raw material supply.

To sum up, the development and progress of the key mineral industry is of great significance to Australia, and is an important guarantee to support Australia's economic growth, promote industrial upgrading, and enhance international competitiveness. The benefits of Australia's increased support for the key mineral industry are multi-faceted, so the Australian government is committed to updating the key mineral strategy, through a series of new policies and measures, to increase support for the industry to promote the development of the industry and hope to enhance Australia's position in the global key mineral market.