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.
Bloc seeks to protect key industries, including the critical raw materials sector.
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