Why Was Helium Removed from the Critical Minerals List in Australia's Recent Update?
Finance News
1 1

Why Was Helium Removed from the Critical Minerals List in Australia's Recent Update?

Australia Updates Critical Minerals and Introduces Strategic Materials List

Australia has revised its Critical Minerals List, expanding it to include 30 minerals or groups of minerals, crucial for modern technologies, economies, and national security. Notable additions to the list are fluorine, molybdenum, arsenic, selenium, and tellurium, aligning Australia’s list more closely with those of international strategic partners. Helium has been removed from the list to further this alignment.

Ensuring Relevance and Strategic Importance

The inclusion of minerals on the Critical Minerals List is based on several key criteria. These minerals are essential for priority technologies outlined in the Critical Minerals Strategy, have geological potential for resources in Australia, are in demand from strategic international partners, and are vulnerable to supply chain disruption.

Monitoring Market Developments and Signaling Government Support

Alongside the Critical Minerals List, Australia has introduced a new Strategic Materials List. This list features minerals important for the global transition to net zero emissions and other strategic applications, but their supply chains are not currently considered vulnerable enough for the Critical Minerals List.

Story Continues.. after this ad because we need some dollarydoos

This new list, comprising copper, nickel, aluminium, phosphorous, tin, and zinc, allows the government to monitor market developments and support the minerals' development.

Aligning with Australia’s Critical Minerals Strategy

The update of the Critical Minerals List and the introduction of the Strategic Materials List are key elements of Australia’s Critical Minerals Strategy, released in June 2023. The strategy aims to ensure that Australia stays at the forefront of supplying minerals critical to modern technologies and economies.

Inclusive and Detailed Analysis

The Critical Minerals Office undertook a detailed technical and market analysis, using the latest data from Geoscience Australia, and engaged in extensive consultation with industry, peak bodies, state and territory governments, and other stakeholders. This included a public consultation on an issues paper to ensure a comprehensive and inclusive process.

Responsive to Global Changes

The Australian Government will review these lists at least every three years and may update them in response to global strategic, technological, economic, and policy changes. This ensures that the lists remain relevant and effectively support Australia’s transition to net zero emissions, advanced manufacturing, defense technologies, and other broader strategic applications.

Preparing Australia for Future Challenges and Opportunities

These updates to Australia’s Critical Minerals List and the introduction of the Strategic Materials List reflect the country’s proactive approach to securing its economic and technological future. By identifying and focusing on minerals essential for modern technologies and national security, Australia is positioning itself as a key player in the global supply chain of critical and strategic materials.

Promote your business on our growing investor platform: Advertise With Us

Like

Reply 111 Share