Australia's first critical minerals hub to make NSW a global leader
Australia’s first Critical Minerals Hub in the NSW Central West positions the state to become a major global supplier of critical minerals and high-tech metals
Deputy Premier and Minister responsible for Resources Paul Toole announced the coming development of the hub near Dubbo today while launching NSW’s first Critical Minerals and High-Tech Metals Strategy.
The key pillars of the Critical Minerals and High-Tech Metals Strategy include:
- Establish Australia’s first Critical Minerals Hub in the Central West
- Promote exploration for critical minerals resources
- Activate the industry through proactive development of supply chains
- Attract investment for critical minerals resources, downstream processing and recycling.
Mr Toole said critical minerals and high-tech metals such as cobalt, nickel and copper will play a vital role in making NSW the number one investment destination for mining and advanced manufacturing.
The appeal of more cost-effective, efficient and secure supply chains will give confidence to explorers, mining companies, and investors to set up and operate in NSW.
“Critical minerals are just that – minerals that are critical to the manufacture of everything from electric vehicles to solar technologies and for which there are no ready substitutes,” Mr Toole said.
Mr Toole said the Critical Minerals Hub was an Australian-first and would set NSW apart as a premier destination for investment in antimony, cobalt, copper, titanium, rare earths and zirconium projects as demand for critical minerals increases exponentially in the next 40 years.
“The Hub in the Central West will be a focal point for the development of this industry, including value-added processing, located close to existing, approved and potential mining developments,” Mr Toole said.
“The hub could accommodate domestic e-waste recycling for eastern Australia, as well as the importation of e-waste from the Indo-Pacific region, so we can recover and recycle critical minerals alongside the exploration and mining of new resources.
“It will build on existing investments at the Parkes Special Activation Precinct as well as the $3 billion investment in Australia’s first Renewable Energy Zone, which is centred around the Dubbo, Wellington and Mudgee regions.
The Strategy includes further geological surveys to deliver more quality pre-competitive data for explorers, investigating the potential for copper production and other downstream processing opportunities for critical minerals, and providing assistance to mining projects to navigate planning and approval processes.