The Central Asian country plans to invest in geological exploration over the next three years at a level equal to what it spent in the past 15 years combined.
Department of Commerce report concludes that import reliance poses a threat to national security; leaves the door open for tariffs at a later stage.
The government intends to secure rights to domestically produced minerals. Partner countries are also to benefit.
The deal with the South American bloc could, over the long term, also place Europe’s raw-materials supply on a broader footing.
According to media reports, a meeting is scheduled for next week.
The Association of Mining and Exploration Companies published a government-commissioned design paper for Australia’s critical minerals strategic reserve.
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