A Labor-led parliamentary committee has called on government to consider policies that would retain more of the nation’s critical minerals for consumption by domestic industry, at a time when it is spruiking Australia as a volume commodity supplier to “like-minded” nations.
In its report from the inquiry into ‘Australia’s trade and investment opportunities in a global green economy’, the Joint Standing Committee on Trade and Investment Growth describes the “tension between meeting export demand for raw materials and utilising those products onshore to develop value-added industries”.
It recommends that the government “consider whether measures are required to retain a greater portion of domestically mined critical minerals and rare earths onshore to encourage the development of downstream industries, such as in the battery supply chain”.
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