Matthew Canavan (Queensland, Liberal National Party, Minister for Resources and Northern Australia) Share this | Hansard source

It is an exciting time for the minerals industry. Some may argue that the modern economy does not rely on mining as much as it did before—some over there in this chamber, in that corner, might—but, in fact, the opposite is true. Modern technologies require more minerals and more metals and a more complex and diverse array of minerals than those in the past. A smartphone requires 25 different metals and minerals for its construction, and we are lucky enough in Australia to produce 18 of those minerals and metals. The United States government recently put out a draft list of minerals that they see critical to their economy for space technology, defence technology and other modern technologies. Of those 35 minerals on their list, Australia has 13, for which we are in the top five for world reserves. We have a great opportunity in Australia to take advantage of the burgeoning demand for minerals, including rare-earth and critical minerals across the world, and the Australian government is doing its bit to try to grow this industry for Australia.