Critical minerals for the world – or just for the US? Turning Australia into a green minerals powerhouse comes with risks

23 May 2024

Mark Dodgson writes for The Conversation.


Globalisation is on shaky ground. As China rises, the United States and its allies are moving to reduce their reliance on the world’s factory.

The rivalry between the US and China is wide-ranging, from competition in technology over silicon chips and artificial intelligence to the critical minerals essential for green energy technologies such as grid batteries, wind turbines and electric vehicles.

At present, China dominates critical minerals. Beijing has secured supplies of rare earth elements and lithium, which have enabled it to take the lead in many green tech sectors, from solar to EVs. This has heightened geopolitical volatility.

But it also offers Australia a new pathway to export success – as well as fresh risks. A key part of the government’s flagship Future Made in Australia Act is an effort to fast-track mining of critical minerals – elements such as cobalt and lithium essential to the green energy transition.

That’s great. But who will buy them? If tensions between the US and China force us to pick a side, we might not be able to export our wealth of critical minerals to China, our largest customer.

Read the full article at The Conversation

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