EU and Australia Forge Alliance on Essential Minerals

The European Union (EU) and Australia have entered into a significant partnership to enhance the supply chains for critical and strategic minerals, crucial for both green and digital transitions. This collaboration, formalized through a Memorandum of Understanding (MoU), aims to diversify the EU's sources of essential minerals while bolstering Australia's critical minerals sector. The partnership encompasses the entire value chain of these minerals, including exploration, extraction, processing, refining, and recycling, ensuring sustainable and secure supplies.

This MoU is set against a backdrop of increasing geopolitical tensions and technological competition, notably with China's dominant position in the global supply of critical raw materials. The partnership not only aims to reduce dependence on China but also to foster innovation and responsible sourcing practices across the EU and Australia. They will jointly develop a roadmap over the next six months to outline specific actions to strengthen this strategic alliance.

Additionally, this partnership is in line with the EU's broader strategy of establishing similar agreements with other countries, aiming to create a robust network that supports the EU's green and digital objectives while enhancing global supply chain resilience​