Australia and Canada sign critical minerals agreement

The federal government has announced that Australia and Canada have signed a joint declaration of intent on critical minerals collaboration.

Minister for Resources and Northern Australia Madeleine King and Canadian Minister for Resources and Energy Tim Hodgson signed the Joint Declaration of Intent on the sidelines of the G7 Energy and Environment Ministers’ Meeting in Toronto.

The agreement — between the Department of Industry, Science and Resources and the Department of Natural Resources of Canada — aims to promote and strengthen cooperation and trade in critical minerals value chains. Other objectives include advancing projects of mutual interest, encouraging commercial partnerships and research collaborations, and addressing policy challenges faced by producer nations.

Both countries will work to ensure that emerging standards-based markets capture the unique challenges that producers of high-standards critical minerals — like Australia and Canada — face.

King said Canada, like Australia, holds some of the world’s most significant critical minerals and rare earths reserves.

“Our national governments have long worked together on resources sector development,” she said. “I am delighted to continue this important partnership with my counterpart, Tim Hodgson, Minister for Energy and Resources.

“As producing nations, it is important we collaborate to ensure both our communities and industry can benefit from growing demand for critical minerals. By working together, we can build secure, diversified and sustainable critical minerals supply chains.”

King’s visit to Canada follows the landmark agreement with the United States, the United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths, which will support a US$8.5 billion pipeline of projects across critical minerals and rare earths.

The Joint Declaration of Intent on Critical Minerals Collaboration is available here.

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