Bankinter | The Australian Government has announced an investment of $1.185 billion to create a Critical Strategic Minerals Reserve.
Initially included are antimony, gallium and rare earths for magnets, elements considered essential for high technology, clean technologies and advanced military hardware. They highlight the use of antimony for storage batteries, night vision equipment and high-performance fire-retardant materials; gallium for advanced semiconductors used in radar and telecommunications systems; and rare earths for high-performance permanent magnets, essential for MRI machines, fighter jets and wind turbines.
The Reserve will support collaboration with international partners in diversifying supply chains with the United States, Japan, Korea, Europe, Canada and the United Kingdom. This is a further step following the agreement with the United States in October 202525, which will support projects in critical minerals and rare earths worth around $13 billion.
