Mineral Criticality Assessment

Project goal:

Establish a quantitative methodology to measure the vulnerability of minerals imported and exported from Australia that are at risk of supply chain disruption. Generate data and information needed to inform government decision-making.

Challenge / Opportunity:

• Like our strategic partners, Australia has a critical minerals list which is used to inform minerals policies and incentives.
• Australia is unique among developed nations in being a primarily minerals-export economy, with trade partnerships concentrated in a handful of countries.
• Australia requires more granular data to help understand our mineral potential and vulnerabilities and an objective set of criteria to inform decision making on changes to our Critical Minerals List, broader trade risks and minerals sovereignty.

Project status:

• Geoscience Australia completed the first mineral criticality assessment in November 2023 and outputs were used to update the Critical Minerals List in December 2023.
• The value of these data has been promoted with Government stakeholders including Prime Minister and Cabinet, Treasury, DFAT, Department of Defence, and DISR.
• Geoscience Australia is using the data to generate specific reports and inform advice to the Government on mineral criticality.

Resources

Find out more about this project:

Geoscience Australia’s project page Australia’s Mineral Criticality assessment