The European Union is looking to attract more investment into Australia’s critical-minerals sector as it works to diversify supply chains and reduce dependence on China, while Canberra has updated its own strategy for mining and processing key materials.
EU Ambassador to Australia Lawrence Meredith told Reuters on Oct. 27 that European investment could cover the full supply chain, including processing. Gallium, antimony and rare earths are among the materials being considered as the EU seeks secure supplies for clean technology, digital infrastructure and defence.
The bloc has proposed up to €10 billion for critical raw materials within a wider €409 billion competitiveness fund for 2028–2034. That figure is part of proposals under discussion for the next EU budget, not a confirmed investment package for Australia.
Australia’s Resources Minister Madeleine King announced a refreshed Critical Minerals Strategy on Oct. 27. The plan focuses on accelerating strategically important projects, attracting investment and international partners, strengthening infrastructure and regulation, promoting sustainable production and expanding the skilled workforce.
The EU and Australia already cooperate on critical raw materials, but the new strategy and renewed investment interest come as governments seek more resilient supply chains for materials used in batteries, renewable energy, advanced manufacturing and defence.
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