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Exclusive-Australia offers to sell shares in critical minerals reserve to allies, sources say
['Tue', 'September At Pm Gmt', 'Min Read']
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By Julia PayneBRUSSELS (Reuters) -Australia is willing to sell shares in its new strategic reserve of critical minerals to allies including Britain, two sources familiar with the matter told Reuters, as Western governments scramble to end their reliance on China for rare earths and minor metals.
Critical minerals such as lithium are essential to technologies used in clean energy, semi-conductors and weapons among other sectors.
Australian Prime Minister Anthony Albanese is returning from an official visit to the United Kingdom this week, where he met his UK and Canadian counterparts and discussed critical minerals, according to government statements.
"Securing our supply of critical minerals is vital for our industrial strategy...We are working closely with UK industry to publish a new Critical Minerals Strategy soon that will reinforce our supply chains for the long term," a UK government spokesperson said, but declined to comment on the share offer.
Other allied nations that have shown interest include the United States and France, according to the sources.