The Critical Minerals Facilitation Office (CMFO), established in early January, has been given the task of leading a coordinated national approach to critical minerals policy.
The Office, which is part of the Department of Industry, Science, Energy and Resources, will take the lead in implementing the National Critical Minerals Development Roadmap.
The roadmap is at the centre of the Council of Australian Governments (COAG) Critical Minerals Work Plan. It is designed to:
- boost critical mineral exploration
- open up new basins
- better align all critical minerals strategies, activities and initiatives
- drive a more strategic, national approach to critical minerals trade and investment
- unlock value-added export opportunities and highly skilled jobs, especially in downstream processing.
A first step will be to agree on a set of priority critical minerals that match the needs of key international partners and leverage Australia’s comparative advantage.
Gaps in Australia’s current capabilities will then be identified and addressed.
The impacts of COVID-19 have heightened the importance of diversified supply chains for critical minerals. The roadmap will ensure Australia is ready to assist with recovery once the COVID-19 emergency is over.
The CMFO continues to engage across the sector as the Australian Government’s central coordination point for industry, investors and academia. The Office will report on its progress to the COAG Energy Council.
More information about the CMFO can be accessed at this PS News link.
