Washington | Australia is in pole position to benefit from a sixfold increase in demand for so-called “critical minerals” worth $US12.9 trillion ($17.6 trillion) over the next two decades, driven by the race to hit net zero emissions, according to analysis from the International Monetary Fund.

In its latest World Economic Outlook, the Washington-based multilateral lender projects that a steady 15 per cent increase in its metal price index will bolster Australia’s annual economic growth by 1 percentage point, further strengthening the government’s finances.