The EU plans ‘massive’ investment in Australia’s critical minerals sector as it seeks to make Canberra a major partner in reducing the bloc’s current reliance on China.
“Since we wish to diversify away from China, then one of the most likely partners has to be Australia,” said the EU’s ambassador to Australia, Lawrence Meredith, who added that the bloc’s security and defence partnership, agreed with Canberra earlier this year, also relies on co-operation on critical minerals.
Speaking at the International Mining and Resources Conference in Sydney on Tuesday (27 October) Meredith said that the bloc would be “massively investing in critical minerals.”
EU and Australian trade officials are currently working on a bilateral trade agreement, with a view to concluding negotiations in early 2027, and a Memorandum of Understanding on critical minerals access is set to be part of it.
Australian officials appear eager to partner with the EU.
On Tuesday, Australia’s resources minister Madeline King said that it would revamp its own critical minerals strategy to put greater emphasis on refining and processing in an attempt to curb China’s dominance.
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