The Albanese government has announced a $1.2 billion plan to establish a strategic reserve prioritising antimony, gallium, and rare earth elements—minerals crucial for clean-energy technologies, advanced manufacturing, and defence systems.
In a joint statement, Treasurer Jim Chalmers, Resources Minister Madeleine King, and Trade Minister Don Farrell said the initiative will secure mineral rights in Australia and on-sell them to meet domestic and international demand, strengthening supply chains for global trading partners.
Rare earths are vital for high-performance permanent magnets used in fighter jets and MRI machines.
Antimony powers household and commercial batteries, while gallium is essential in advanced semiconductors for radar and telecommunications systems.