The Tasmanian Government has unveiled its Critical Minerals Strategy. It aims to boost clean technology and renewable resources critical to the global energy transition.
The strategy is built around four key objectives;
- Expanding exploration for critical minerals
- Supporting critical minerals projects,
- Increasing on-island processing and value-adding activities, and;
- Enhancing Tasmania’s trade and investment presence in the critical minerals sector.
A Multi-Faceted Approach
To achieve these goals, the strategy will leverage existing government initiatives such as the EDGI co-funding drilling program and the newly launched Critical Minerals Initiative, outlined in Tasmania’s 2024–25 State Budget. Additionally, the government has committed $3 million to accelerate the implementation of the strategy.
Positioning Tasmania as a Leader
Tasmanian Business, Industry and Resources Minister Eric Abetz highlighted the state’s unique advantages in the critical minerals sector.
“Tasmania is among the most mineralised places on the planet and this new strategy aims to leverage our unique geological advantages to attract local investment, create jobs and support a low-carbon economy,” Abetz said.
“The strategy focuses on identification of new mineral reserves to drive investment and development of critical mineral processing and value-adding capacity in Tasmania for the best possible return.”
The mining and minerals processing sector already contributes nearly $3 billion annually to Tasmania’s economy, supporting around 6800 jobs. Abetz emphasised the strategy’s alignment with the government’s 2030 Strong Plan for Tasmania’s Future, designed to foster growth and boost the value of exported mineral products.
Building on National Momentum
Other Australian states, including Western Australia, New South Wales, and Queensland, have developed their own Critical Minerals Strategies, complementing the Federal Government’s national strategy.
By capitalising on its unique geological and renewable energy assets, Tasmania’s Critical Minerals Strategy is set to position the state as a key player in the global energy transition, driving local economic growth while supporting a low-carbon future.