Australian Resources Minister Unveils Revised Critical Minerals Strategy

MT Newswires Live10-27

Australian Resources Minister Madeleine King introduced a revised Critical Minerals Strategy to boost economic resilience, national security, and industrial capability, the Department of Industry, Science and Resources said in a statement on Tuesday.

The minister said government initiatives, such as the Critical Minerals Strategic Reserve, expansion of the Critical Minerals Facility, and the Critical Minerals Production Tax Incentive, helped secure investments in various projects including Iluka Resources' (ASX:ILU) Eneabba Refinery, Arafura Rare Earths' (ASX:ARU) Nolans project, Alcoa's (ASX:AAI) joint project with Sojitz and Renascor Resources' (ASX:RNU) Siviour project.

The revised strategy will guide the nation to the next phase, with greater emphasis on processing and refining critical minerals, while also recognizing the role of international partnerships in developing the sector, according to the minister.

Arafura Rare Earths shares fell 2% in midday trade Tuesday, while Alcoa shares were up 1%.

Renascor Resources shares were also up 2%.

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