Tasmania introduces new Critical Minerals Strategy

Wedoany.com Report-Nov 15, The Tasmanian Government has released its Critical Minerals Strategy in a bid to drive clean technology and renewables needed for the global energy transition.

The Tasmanian Critical Minerals Strategy has four objectives: to grow exploration for critical minerals, support critical minerals projects, increase on-island processing and value-adding of critical minerals, and increase Tasmania’s trade and investment footprint in critical minerals.

The strategy will be supported through existing Tasmanian Government initiatives, including the EDGI co-funding drilling program and the new Critical Minerals Initiative announced in Tasmania’s 2024–25 State Budget. The Tasmanian Government will also invest $3 million to accelerate the strategy.

Tasmanian Business, Industry and Resources Minister Eric Abetz said the Critical Minerals Strategy harnesses the state’s unique geological assets and renewable energy benefits, positioning Tasmania to become a leading critical minerals supplier.

“Tasmania is among the most mineralised places on the planet and this new strategy aims to leverage our unique geological advantages to attract local investment, create jobs and support a low-carbon economy,” Abetz said.

“The strategy focuses on identification of new mineral reserves to drive investment and development of critical mineral processing and value-adding capacity in Tasmania for the best possible return.

“Tasmania’s mining and minerals processing sector is already worth almost $3 billion a year and supports around 6800 local jobs, and the government’s 2030 Strong Plan for Tasmania’s Future will drive further growth as well as increasing the value of exported mineral products.”

Other Australian states with a Critical Minerals Strategy includes Western Australia, New South Wales, and Queensland. There is also a Federal Critical Minerals Strategy.