Federal Government’s battery breakthrough dependant on critical minerals

The Australian Government is investing $532 million to encourage battery production and make Australia competitive in the global energy storage market.

Industry Minister Ed Husic has released a New National Battery Strategy as part of the Government’s Future Made in Australia policy, canvassed in last week’s Federal Budget.

With 45% of the world’s critical minerals, but only 1% of global battery production, it’s clear the mining industry and resources professionals will be key to any advantage Australia carves out in the already competitive battery industry. At the same time, there’s no question that constrained supply chains are pushing government and industry leaders around the world to think again about how they source, manufacture and secure a long-term supplies of battery materials – especially as the push towards electrification continues.

That means working with a broader range of minerals, developing novel battery chemistries, and pursuing innovative approaches to processing and refining.

And that means the resources sector – and especially the skills and expertise of resources professionals – will be the essential ingredient in delivering on the Government’s battery manufacturing ambitions.

In the Minister’s words, this is about moving from ‘dig and ship’ to doing “more on shore”.

The details on the strategy remain to be determined and will be worked out through a process of industry engagement in coming months.

AusIMM’s Critical Minerals Conference 2024

AusIMM's Critical Minerals Conference 2024 will bring together the leaders from industry, government and academia who will be key to answering the questions that come with an announcement of this scale.

As the Government begins consultation with industry, the conference is your chance to learn more about the role of mining in the critical minerals value chain and engage directly with government agencies, battery producers and more.

Learn more: https://www.ausimm.com/conferences-and-events/critical-minerals-2024