Resources Minister Madeleine King makes promise to Indo-Pacific neighbours

Australia has made a big promise to its neighbours as it enters a new security pact aimed at shoring up supplies of critical minerals.

Resources Minister Madeleine King is set to make a big commitment about the materials required for the Indo-Pacific’s transition to renewable energy.

Ms King will on Wednesday night address leaders from the critical minerals sector at a dinner to wrap up the Sydney Energy Forum.

“I’d like to make this pledge; Australia stands ready to assist our region in tackling the supply chain challenges for critical minerals,” she is expected to tell industry heavyweights.

She will say Australia has “vast reserves” of the lithium, cobalt, rare earth elements and other critical minerals required for the production of storage batteries and other renewable technologies.

“We also have policy settings that are conducive to the clean energy transition,” she will say.

“(These) will see more of our critical minerals not only exported, but processed in Australia to make precursor products and, eventually, things like batteries and solar panels.”

Prime Minister Anthony Albanese has promised Australia will be a trusted global partner on climate change. Picture: Pool / Getty Images

Her speech comes as Australia enters a pact with allied nations to shore up critical mineral supplies, given China controls vast amounts of the materials required for renewable energy technology.

The Minerals Security Partnership also includes Canada, Finland, France, Germany, Japan, the Republic of Korea, Sweden, the United Kingdom, the US and the European Commission.

Ms King joined US Energy Secretary Jennifer Granholm at a roundtable with industry representatives at the Sydney Energy Forum earlier on Wednesday.

Ms Granholm told the group: “Our concern is that critical minerals could be as subject, or vulnerable, to manipulation as we’ve seen in other areas, or weaponisation.”

“And we want to – it’s healthy and from a national security perspective for both of our nations – to diversify our supply chains and make sure that these minerals are available to get to the ultimate goal of net-zero,” she said.

Mr Albanese and Resources Minister Madeleine King, pictured together in 2019, have made several commitments at the energy forum this week. Picture: AAP / Mick Tsikas

Anthony Albanese on Tuesday promised to strengthen Australia’s co-operation with Pacific Island and Southeast Asian nations in order to help achieve a net-zero world.

In his speech to the Sydney Energy Forum, the Prime Minister said Australia would once again be a “trusted global partner” on climate action.

Mr Albanese reiterated his government’s focus on emissions reduction as an economic opportunity, saying he wanted to collaborate with the wider region on the transition away from fossil fuels.

Ms King will echo these commitments in her speech to the critical minerals dinner on Wednesday night.

“This is a region where the impact of climate change is being acutely felt, but it’s also a region brimming with ambition, and the resources to meet the challenge,” she will say.

“Australia is a trusted supplier of resources and energy to Indo-Pacific countries and we’re working to build on that success as our critical minerals sector grows.”

The Sydney Energy Forum was co-hosted by the federal government, the International Energy Agency and the Business Council of Australia.