Top lithium supplier Australia is set to become more selective about who it lets invest in its growing critical minerals industry, Treasurer Jim Chalmers said on Friday.
“But as investment interest grows, and as the sources of that investment interest grow, we’ll need to be more assertive about encouraging investment that clearly aligns with our national interest in the longer term.” Federal investment has already flowed into Iluka Resources’ rare earths processing plant in central Australia. A further A$1 billion is available to “value adding” in resources as part of its National Reconstruction Fund which is also linked to a A$2 billion Critical Minerals Facility.
“To put it as simply as I can – our international friends need to rely on someone, so let’s have them relying on us,” he said.
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