PERTH – The Minerals Council of Australia has welcomed the passing of the Inflation Reduction Act in the US, saying it will help to underpin the critical minerals sector in Australia.
Australia in July this year joined an international partnership with the US, Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the UK and the European Commission to develop and secure global supply chains for critical minerals that are crucial to clean energy technology and the global transition to clean energy.
"If we are going to increase the capacity of existing mines, or open new mines, including in the commodities needed for our global transition to net zero emissions, capital investment will need to be increased by an order of magnitude,” Constable said.