Australia’s Leader Vows to Create Critical Minerals Reserve
Anthony Albanese speaks during the Labor Party federal election campaign launch in Perth, Australia, on April 13.
Photographer: Matt Jelonek/BloombergTakeaways NEW
Australia’s ruling Labor party will create a critical mineral reserve if it’s re-elected in an upcoming ballot, seeking to secure supplies of the crucial materials as global trade headwinds grow.
A Labor government will make an initial investment of A$1.2 billion ($769 million) in the strategic reserve, which is expected to be operational in the second half of next year, Prime Minister Anthony Albanese announced Thursday in the mining hub of Western Australia.