Australian Prime Minister Anthony Albanese has met with Japan Prime Minister Sanae Takaichi in Canberra to formally unveil the joint statement on Critical Minerals Cooperation.
The Federal Government is providing support of up to $1.3 billion to critical minerals project involving Japan, as well as non-binding letters of support. This creates the potential to supply Japan with critical minerals like gallium, nickel, graphite, rare earths, and fluorite.
Albanese said Japan has played a longstanding role in the development of Australia’s critical minerals sector.
“Japan has been a long-standing partner in the development of Australia’s critical minerals sector,” the Prime Minister said.
“By working closely with Japan, we can attract greater investment in our critical minerals sector and further develop the sector, creating jobs and capability in Australia.”
This partnership builds on the existing Australia Japan Critical Minerals Partnership launched in 2022, and is designed to support investment in Australian mining, processing and refining projects linked to Japanese industry demand.
Foreign Affairs minister Penny Wong said the agreement was aimed at strengthening long-term supply chain security between the two nations.
“Our cooperation with Japan is all about building more resilient and stable supply chains over the long term,” Wong said.
“We both see the tremendous potential in working more closely together to support reliable access to critical minerals.”
Trade and tourism minister Don Farrell said the agreement aligned with Australia’s broader industrial strategy.
“We are committed to working with Japan to develop Australia’s critical minerals sector and support resilient supply chains between our countries and in our region,” Farrell said.
“Developing our critical minerals is a key national priority under our Future Made in Australia agenda, and we can achieve this by working closely with Japan, a trusted and longstanding partner.”
Resources minister Madeleine King said Japanese investment had been critical to the growth of Australia’s resources sector.
“Sustained, trusted, constant investment from Japan is a cornerstone of the global powerhouse that is the resources sector of Australia,” King said.
“Working together with Japan we are building a new era for our resources sector that will support both our economies and our shared security for generations to come.”
The announcement comes amid growing international competition to secure supplies of critical minerals, with Australia pursuing similar strategic agreements with countries including the United States and India in recent years.
