Executive summary 4

Conclusions and recommendations 5

Diversify outbound supply chains 5

Influence and activate Australia’s agreements with like‑minde d nations and groupings 5

Integrate investment support arrangements with other nations’ minerals security mechanisms 5

Honour the letter and spirit of priority agreements 5

Streamline Australia’s domestic project‑approval processes 6

Bring energy to market at adequate volumes and competitive prices 6

Ensure future availability of resources professionals 6

Enhance infrastructure to improve efficiency and reliability 6

Introduction 7

Critical and strategic minerals: what are they? 10

Maintaining Australia’s minerals success 15

Market dynamics for critical minerals 16

Rising critical‑minerals demand 16

Perspective on the economic value of critical minerals to Australia 17

Challenges for developing new critical‑minerals supply chains 17

Managing critical‑minerals supply‑chain risks 19

Identifying risks 19

China’s geostrategic use of critical‑minerals dominance 22

Mitigating supply risks 22

Reducing dependence on a dominant customer 23

Putting the Australia–US minerals relationship into perspective 24

Bilateral minerals trade and investment 24

US efforts to build critical‑minerals supply chains 25

US domestic critical‑minerals policies 26

US–Australia partnerships in minerals projects 28

Multilateral initiatives to build new supply chains 32

Australian projects and multinational supply chains 33

Lynas Rare Earths 33

Iluka Resources Eneabba rare‑earths refinery 34

Australian Strategic Materials rare earths and metals 35

Proposed gallium production in Western Australia 36

Australia’s critical‑minerals policies and actions 37

Developments in Australia’s critical‑minerals frameworks 37

Escalation of government intervention in the minerals sector 42

Developments in international coordination and cooperation 44

Speeding critical‑minerals projects to market 51

Australia’s minerals permitting and regulation 51

Achieving competitive costs in Australia 51 Developing skills 52

Enhance infrastructure to improve efficiency and reliability 52

Making the most of disruption and opportunity 53

Appendix: Australia’s critical‑minerals agreements 54

Australia’s bilateral critical‑minerals agreements and processes 54

Australia’s multilateral and minilateral critical‑minerals agreements and processes 55

Notes 56

Acronyms and abbreviations 59