Australia and the United Kingdom have pledged to spice up the worldwide provide of essential minerals wanted to energy a cleaner world economic system.
Australia is the world’s prime producer of uncooked lithium and different essential substances for electrical automobiles, new power tools and superior communications.
But with China dominating the provision of purified essential minerals and uncommon earths, the 2 allies have agreed to work collectively to shore up provide chains.
The UK Minister for the Indo-Pacific Anne-Marie Trevelyan on Tuesday signed a letter of intent with federal Resources Minister Madeleine King in Perth.
Ms Trevelyan mentioned the 2 nations wished to futureproof provides as essential minerals are important to attaining internet zero emissions.
“Australia’s unmatched production capacity, combined with the UK’s mineral trading and finance expertise, will boost global supplies, help protect supply chains from future shocks, and support thousands of skilled, high-paying jobs,” she mentioned.
Ms King mentioned the pact with the UK additional strengthened Australia’s resolve to be a world provider of the sources wanted for clean-energy expertise, comparable to batteries, electrical autos, photo voltaic panels and wind generators.
The International Energy Agency expects the necessity for battery expertise and electronics to develop four-fold by 2040.
“We will work closely with the UK to build resilient, sustainable, and transparent supply chains for critical minerals, which help both the UK and Australia to lower emissions and achieve net zero commitments,” Ms King mentioned.
Sovereign processing and manufacturing, elevated funding ties for tasks, and analysis and growth are lined by the assertion of intent.
They additionally pledged to spice up abilities, work with allies and promote excessive environmental, social and governance (ESG) requirements.
Australia’s new essential minerals technique, a key a part of the dedication to internet zero by 2050, will probably be launched later this yr.
Source: www.perthnow.com.au
