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☆ Australia's Resources Minister Seeks Investment From S.Korea, Japan
▼ + stars: | 2024-01-28 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

MELBOURNE (Reuters) - Australia's resources minister has begun a week long trip to South Korea and Japan to discuss gas exports and critical minerals opportunities, as its government on Monday released a "prospectus" of 52 investment ready critical minerals projects. "Australia's critical minerals are key to the world's energy transformation," said Minister Madeleine King in a statement. King will be meeting Japan's trade minister Ken Saito, and South Korean trade and energy minister Duk-geun Ahn, she said in a statement. The minister is also expected to engage her counterparts on natural gas as Australia develops its future gas policy, given both nations are large customers of the major exporter. Already this year, a string of Australian nickel projects have been iced, including part of BHP's operations in the state of Western Australia.

Persons: Madeleine King, King, Ken Saito, geun Ahn, Melanie Burton, Christopher Cushing Organizations: MELBOURNE Locations: South Korea, Japan, Korean, Australia, Western Australia, Australian

"We've certainly seen Australia's reputation being affected as some existing buyers expressed interest in diversifying their suppliers for long-term supply," said Ryhana Rasidi, LNG analyst at analytics firm Kpler. "Australia is the closest gas supplier we can get. By far, Australia, U.S. and Qatar are the three pillars in LNG supply chain. As well as its political stability, its proximity to Asia might be Australia's saving grace, industry analysts say. "Ties are very strong between North Asia and Australia as a legacy supplier, so many participants are keen to continue the relationship," said Kaushal Ramesh, LNG analyst at Rystad Energy.

Persons: Inpex, Resources Madeleine King, We've, Ryhana, Jane Liao, Kaushal Ramesh, Emily Chow, Yuka Obayashi, Muyu Xu, Andrew Hayley, Joyce Lee, Lewis Jackson, Florence Tan Organizations: Reuters, Chevron, Handout, REUTERS, Rights, Workers, Japan's Kyushu Electric Power, Chevron's, Woodside Energy, West Shelf, South, Resources, Taiwan, Tohoku Electric Power, Kyushu Electric Power, Osaka Gas, Rystad Energy, Thomson Locations: Chevron, Barrow Island, Australia, Rights SINGAPORE, TOKYO, Qatar, United States, Western Australia, China, Japan, South Korea, Taiwan, Ukraine, Oman, U.S, Asia, Singapore, Tokyo, Beijing, Seoul, Sydney

☆ Australia minister calls on end-consumers to underpin critical minerals investment
▼ + stars: | 2023-06-20 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

One of the world's biggest suppliers of raw minerals, Australia unfurled a landmark strategy on Tuesday that outlines how it will work with investors and international partners to build a critical minerals processing industry. Australia is the world's top supplier of lithium, and a significant producer of rare earths, cobalt, graphite, manganese and other minerals critical to global energy transition. China dominates critical minerals processing, accounting for more than 80% of global rare earths production, and holding large investments in cobalt, lithium and other mining and processing operations in Australia, Africa and South America. In 2010, China cut exports of rare earths after a dispute with Japan, sparking an international hunt for new deposits. The government can't scrimp on environmental, social and regulatory standards, however, since ethical, sustainable supply is a key strategic advantage for Australia, King said.

Persons: Madeleine King, Australia's, King, Melanie Burton, Tom Hogue Organizations: MELBOURNE, Australia, Reuters, U.S . Defence, U.S, Thomson Locations: Australia, China, Africa, South America, Japan, United States, Albemarle, Western Australia

☆ Australia taps global partners in landmark critical minerals strategy
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +3 min

MELBOURNE, June 20 (Reuters) - Australia, one of the world's biggest suppliers of raw minerals, unfurled a landmark strategy on Tuesday that outlines how it will work with investors and international partners to build a critical minerals processing industry for the energy transition. Supplier of nearly half of the world's lithium, Australia is a significant producer of rare earths, cobalt, copper, graphite, manganese and other minerals key to the global energy transition. The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to Australia's economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. The government is considering policies that would enabledomestic supply of Australian critical minerals for Australian projects, it said, although any future approach must be tailored to the needs of Australia and the global context. This comes as international companies secure ownership and supply of Australian minerals, particularly lithium and rare earth elements, meaning Australian processors and manufacturers may struggle to access supplies of Australian minerals in future.

Persons: Madeleine King, Melanie Burton, Chizu Organizations: MELBOURNE, Labor, Grattan Institute, European Union, Thomson Locations: Australia, China, Taiwan, United States, United Kingdom, Japan, Korea, India

☆ Australia risks losing pole position in critical minerals race
▼ + stars: | 2023-03-30 | by ( Melanie Burton | ) www.reuters.com time to read: +5 min

The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to the economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. They want rapid action in light of new competition from the U.S., Canada and the European Union, which have laid out critical minerals strategies including billions of dollars in incentives. King said on Wednesday a critical minerals strategy would be released "soon". However the government has not said when it would deliver its national battery strategy. "The elements for an effective critical minerals strategy are in place.

SYDNEY, Nov 3 (Reuters) - Australia on Thursday urged its multi-billion dollar mining industry to support the government's plans for a referendum to give the country's Indigenous people a voice in parliament. The proposal to enshrine an Indigenous voice in parliament was a pledge Albanese's Labor party took to the May general election where it ended almost a decade of conservative Liberal-National coalition government. "I urge the resources sector to play a positive and energetic role in ensuring voice campaign is a success. After all, First Nations people of Australia were the first to inherit the extraordinary natural endowment this continent and the resources sector owes First Nations people so very much." A successful referendum would bring Australia in line with Canada, New Zealand and the United States in formally recognising indigenous populations.

☆ Australia rules out curbs on gas exports after producer deal
▼ + stars: | 2022-09-29 | by ( Sonali Paul | ) www.reuters.com time to read: +2 min

MELBOURNE, Sept 29 (Reuters) - Australia will not put curbs on gas exports after reaching a deal with its three east coast producers of liquefied natural gas (LNG) to avert a forecast supply crunch, Resources Minister Madeleine King said on Thursday. The pact unveiled on Thursday provides for Queensland Curtis LNG, run by Shell, Australia Pacific LNG, run by ConocoPhillips (COP.N), and Gladstone LNG, run by Santos (STO.AX), to offer an extra 157 petajoules of gas to the domestic market next year. The terms require the LNG exporters to offer uncontracted gas to the domestic market before international buyers and ensure domestic buyers will not pay more for uncontracted gas than customers offshore. This is because it is the only east coast exporter to take more gas out of the domestic market each year than it supplies. GLNG agreed to step up domestic supply during Australia's peak winter demand period, Santos said.

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