Albanese Banks on Critical Minerals Reserve to Bolster Sovereignty

Labor’s new reserve aims to secure critical minerals, limit Chinese influence and attract allies like the US, as scrutiny of global supply chains grows.

Australian Labor Prime Minister Anthony Albanese debates Liberal Opposition Leader Peter Dutton in Sydney, Australia on April 8, 2025. Jason Edwards-Pool/Getty Images

Australia’s Labor government will pour $1.2 billion (US$764 million) into a new strategic reserve of critical minerals in a bid to build an alternative supply chain to China.

Prime Minister Anthony Albanese, campaigning ahead of the May 3 federal election, said the investment was part of efforts to boost economic resilience.