The federal government has earmarked $500 million for critical minerals projects under its new Critical Minerals Strategy, which will also seek to streamline the environmental approval process and update the list of designated critical minerals.
Released on Tuesday, the strategy aims to build sovereign capability in critical minerals processing and avoid reliance on the Chinese supply chains that currently dominate the sector.
Industry stakeholders have welcomed the strategy for providing a coherent framework which integrates existing policy supporting the critical minerals industry.
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