Tom French (Moore, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Resources and Minister for Northern Australia. How is the Albanese Labor government diversifying the global supply chain of critical minerals and rare earths and boosting Australia's resource sector here at home?

Madeleine King (Brand, Australian Labor Party, Minister for Northern Australia) Share this | Link to this | Hansard source

I thank the member for Moore for his question. The need to diversify supply chains of critical minerals and rare earths is a global challenge. Our great island continent holds in its geology the elements of the periodic table we need for the modern technology we rely on, for the green energy production we need for our energy security and to reduce emissions, and for the technology that ensures our national security and our national defence. This government is stepping up to lead on critical minerals supply chains globally. Under the leadership of this Prime Minister, this government has invested $28 billion into an industry of global significance. Prime Minister Albanese and this government are leading efforts across the G7, the G20 and the Quad, and also bilaterally, to diversify global supply.

I was delighted to be alongside the Minister for Industry and Innovation in Washington to witness our Prime Minister and the President of the United States agree the historic critical minerals framework. This Australia-US framework is now the model for all US engagement around the world, and together we are leading the way. It is an $8 billion pipeline of critical minerals projects that will bring more stable, more secure jobs to Australians right around this country.

No Prime Minister has done more than this Prime Minister to boost the resources sector of this nation. In Canada last week, I was delighted to represent Australia at a meeting of G7 ministers in Toronto, where I discussed with G7 counterparts the implementation of a critical minerals production alliance, a collaboration between the G7 nations to diversify global critical minerals supply.

There are three factors that get Australia a seat at the table of a G7 meeting of ministers. Firstly, it's our commitment to net zero emissions by 2050. Secondly, it's our commitment to environmental protection. Thirdly, very importantly, it's our commitment to the sustainable production of critical minerals and rare earth elements, and changing the supply-chain monopoly. This government is committed to all three of those factors. Those opposite are committed to absolutely none of them.

I was delighted to also sign a joint declaration on the sidelines, a declaration of intent with Canada to deepen our links with them and our collaboration on critical minerals and rare earths. I also witnessed a heads of agreement between Ucore, Wyloo and Hastings to link offtake to the Yangibana rare earths project, another critical project that will go to diversifying our supply chains.

This government has done the hard work to develop policy in critical minerals and rare earths, and we will continue to do this work to ensure the future of the critical minerals sector and the critical minerals and rare earths processing industry of this country.