Australia Unveils Key Strategy Which Will Challenge China’s Critical Mineral Dominance

In May 2022, Chinese companies are competing with Australia's AVZ Minerals for control of the Manono lithium project in the DRC, Africa. The picture shows AVZ's lithium mine in the Manono region of the DRC. Photo by JUNIOR KANNAH/AFP via Getty Images

The Australian government has pledged hundreds of millions of dollars in new funding to challenge China’s grip on supplies of key minerals while starting a critical minerals processing industry which it says could create 262,600 new jobs by 2040.

Minister for Resources and Northern Australia Madeleine King released the Albanese government’s critical minerals strategy 2023-2030 on June 20, which aims to “make Australia a globally significant producer of raw and processed critical minerals and boost economic opportunities for all Australians.”