Have you heard about the signature of the "Australia – United States Climate, Critical Minerals and Clean Energy Transformation Compact" that occurred last May?
The Compact creates a framework for further cooperation between the United States and Australia in critical minerals and clean energy. More specifically:
accelerate the expansion and diversification of clean energy supply
promote responsible, sustainable and stable supply of critical minerals
drive the development of emerging battery technologies; and
support the development of emerging markets for clean hydrogen and its derivatives
Subject to Congress approval, United States is basically proposing to consider Australia as a “domestic source” under the U.S. Defense Production Act of 1950, which would remove barriers for U.S. investment in Australian sources of minerals on the U.S. critical minerals list and could provide access to Australian suppliers of critical minerals to U.S. loan and guarantee programs, as well as other U.S. incentives.
The list of critical minerals published by the U.S. government includes cobalt, lithium, nickel, tantalum, titanium, zirconium and other minerals mined in Australia.
The Joint Statement also identifies key actions intended to achieve the Compact’s objectives:
Identify and address barriers to development and deployment of critical minerals and clean energy in the two countries, intended to enhance investment flows between the two countries and may involve government-sponsored investment agencies
Collaborating on projects and standards for clean energy supply chains to support domestic policy agendas and be ready for competition in the global market
Promoting robust emissions accounting methodologies for key sectors and products, including hydrogen, hydrogen derivatives and green metals, with a view to aligning standards.
Adequatel skills, training support and workforce development and critical minerals and critical technologies
Click at the image (by Energy Matters) below to read more in the press release from the White House.
