Australia and Europe must work together to break China’s dominance over the critical minerals needed for renewables, says the European Union’s energy commissioner.
“We can only accelerate renewable deployment if we will diversify supply routes for critical minerals,” Simson said.“It is no secret that we are both concerned about the monopolistic position of some actors in the critical minerals market.” Australia has some of the world’s biggest known reserves of critical minerals but does not have the capability to process them. It is one of the largest lithium producers and ranks among the top producers of nickel, cobalt, manganese ore and rare earths, but nearly all of it is shipped to Asia for processing before being made into products.
Australian miners would need to secure billions of dollars to open more critical minerals mines and establish processing facilities to compete with China.
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