The reserve will secure the supply of vital materials for Australia's economy and national security.
The first minerals included in the strategic reserve are antimony, gallium and rare earth elements. They are crucial for clean-energy and high-technology manufacturing as well as advanced military hardware.
- Antimony is used in storage batteries, night-vision equipment and high-performance flame-retardant materials.
- Gallium is used in advanced semiconductors used in radar systems and telecommunications.
- Rare earth elements are used in high-performance permanent magnets, essential for MRI machines, fighter jets and wind turbines.
The Critical Minerals Strategic Reserve works by securing rights to minerals produced in Australia and on-selling those rights to meet demand. It will boost the critical minerals sector and strengthen supply chains for our export partners.
The reserve includes $1 billion for transactions to be drawn from the expanded $5 billion Critical Minerals Facility. The facility currently provides loans and equity support for critical minerals projects, and will be expanded for this new remit. A further $185 million will be used for selective stockpiling and other implementation costs.
