Federal Resources Minister Madeleine King has weighed in on critical minerals as just one aspect of trade talks with the US, following a phone call last week between Australian Prime Minister Anthony Albanese and US President Donald Trump.
In an interview with the ABC, King said US investment in the Australian critical minerals sector would be beneficial to both countries, and that the US could count on Australia as a “trusted supplier”.
“We have a unique geology. We have the world’s best resources sector. And I mean that in every sense of the word,” King said. “From the minerals we can extract, the processing we’re facilitating right now, the refining we see in our future with a lot of government and private investment.
“We encourage US investment in these products. We need them for our green future, but also for our defence applications. But, equally, the US needs them for their secure supply chains as well.”
King called critical minerals “a gift of [Australia’s] geology”.
“We are in the best place in the world to be able to mine and refine those commodities,” she said.
King said the Federal Government is already working with other countries on critical minerals deals, including Japan and Korea, and that while the trade relationship between Australia and the US is complex, the “existing and long-term and very stable relationship with the United States” augured well for a satisfactory outcome.
“We do think that in heavy rare earths and rare earths more generally, and critical minerals, there’s an excellent opportunity for us to work together,” she said.
Albanese last week said he had “another warm and constructive conversation” with the US President, during which they discussed the two countries’ trade and economic relationship, “as well as areas for growth, including critical minerals”.
The Federal Government has been keen to negotiate exemptions to US tariffs on imports, which include a 50 per cent tariff on aluminium and steel.
The most recent call between Albanese and Trump followed the August visit to the White House by BHP chief executive officer Mike Henry, his Rio Tinto counterpart Simon Trott, and Trott’s predecessor at Rio Tinto, Jakob Stausholm.