The minister for resources and Northern Australia is visiting the United States and hopes the country’s president will help find ways for more critical commodities to be shipped across the Pacific Ocean.
Senator Matt Canavan will hold talks with senior officials from the Trump administration to help support international collaboration on critical mineral supply chains through a new US-Australia Critical Mineral Action Plan, which supports investment, diversity, research and development of critical minerals supply chains.
Trump applauds industry
The visit came just weeks after the prime minister met with Donald Trump (pictured) who was quick to congratulate the Australian resources sector for innovating clean coal technology and mine safety.
“They are really at the leading edge of coal technology,” the president said during Scott Morrison’s visit to the White House in September. “It’s clean coal, we call it ‘clean coal’.”
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New government office
In addition to the visit, the minister has announced the establishment of a new Critical Minerals Facilitation Office at the beginning of the New Year that will allow the government to help grow the industry through developing a national resources statement, critical minerals strategy and a critical minerals investment prospectus. The office will also work with Austrade to promote investing in the Australia’s industry to the world.
“To further facilitate the sector’s growth, a specialised new will be opened on 1 January 2020 to help proponents secure investment, financing and market access for critical mineral projects,” Canavan said in a public statement. “The office will also support international cooperation to help diversify critical minerals supply chains.”
Cash splash
The government will allow projects to access dual funding through Export Finance Australia (EFA) and the Northern Australia Infrastructure Facility (NAIF). A further $4.5 million in federal funding will go towards key Commonwealth scientific agencies like CSIRO to do critical minerals research.
“By allowing proponents to secure financing through both EFA and the NAIF, we are enhancing opportunities for our critical mineral sector,” Canavan said. “This opens up new opportunities in trade and manufacturing, creating jobs of the future for thousands of Australians.”
Image credit: The White House Facebook page.
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