**Australia**: The government has announced the creation of a Critical Minerals Strategic Reserve to enhance exploration and production, receive industry support, and ensure resilience against global trade fluctuations, particularly following recent US trade measures under Donald Trump.
The Australian Government has announced plans to create a Critical Minerals Strategic Reserve, a proactive move aimed at boosting exploration and production of essential minerals while ensuring resilience against global trade fluctuations. This initiative comes in light of recent trade measures announced by former US President Donald Trump, who imposed a baseline 10% tariff on imports from all foreign nations.
The announcement has been met with positive feedback from industry representatives. The Association of Mining and Exploration Companies (AMEC) has voiced its support for the government’s decision, highlighting the importance of critical minerals to both the Australian economy and to international trade relations. An official statement from AMEC noted, “the US has made it clear that critical minerals are essential for their future economy.” Furthermore, the organisation underscored that the topic remains a high priority in ongoing negotiations involving Ukraine, the European Union, and Australia.
Warren Pearce, Chief Executive of AMEC, expressed the need for further details regarding the proposal to fully assess its implications. He stated, “we will have to wait to see the details of this proposal, before industry can fully judge the proposal.”
As the global demand for critical minerals continues to rise, Australia’s initiative reflects broader strategic interests in securing both domestic and international supply chains in the face of shifting geopolitical landscapes. The Australian Government’s move to create this reserve will play a significant role in shaping the country’s approach to critical mineral management and trade in the coming years.
Source: Noah Wire Services
