Australia wants EU investment in critical minerals, but first a free trade agreement

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 63%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

By Lewis Jackson and Kirsty Needham SYDNEY (Reuters) - Australia's Trade Minister Don Farrell has dangled easier access to the country's vast critical ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Lewis Jackson and Kirsty Needham

Farrell told Reuters in an interview on Thursday that a free trade agreement would simplify European investment in the country's burgeoning critical minerals sector, in part by smoothing access through mandatory Foreign Investment Review Board screening.Australia supplies around half of the world's lithium, as well as other minerals like rare earths used in batteries for electric cars and defence, amid a global push to diversify supply chains away from dominant producer China.

Germany wants to source rare earths and lithium from Australia as part of a broader strategy to diversify its trading partners and de-risk from China, Foreign Minister Annalena Baerbock said in a video address to a Sydney audience on Tuesday. Australia was an especially attractive place for critical minerals investment from the United States under U.S. Inflation Reduction Act rules because it was one of the few countries to have both mineral deposits and a free trade agreement with the U.S., said Farrell.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in CA

Canada Canada Latest News, Canada Canada Headlines