Critical minerals and rare earth production the way forward

17 April 2024

Key industry leaders and representatives from Australia, Japan, the Republic of Korea and the United States will gather in Darwin over the next two days to discuss critical mineral production, supply chain resilience and economic security. 

A huge driver of the economy, the total value of mineral production in the Northern Territory was $4.86 billion last year, with 4,400 people employed within the industry.

Demand for these critical minerals is projected to rapidly grow with the increasing transition to renewable energy and battery storage, along with the crucial role of these minerals in areas such as medicine and defence.

The Darwin Dialogue’s mini-lateral and bilateral cooperation on critical minerals and rare earths highlights the opportunities and strategic importance the Northern Territory will play in the critical minerals supply chain for Australia and global partners.

This summit highlights the opportunities and strategic importance the Northern Territory will play in the critical minerals supply chain for Australia and global partners.

The demand for critical minerals is expected to continue to grow to support renewable energy, battery storage and high-technology industries.

This presents significant economic and strategic opportunities for the NT to become a reliable supplier of minerals to support the transition to a decarbonised economy.

The Darwin Dialogue is convened by the Australian Strategic Policy Institute (ASPI).

Quotes attributed to Chief Minister Eva Lawler:

“The Territory Labor Government is creating the working opportunities of the future.”

“The Darwin Dialogue 2024 is an exclusive Track 1.5 initiative that brings together 60 leaders and key representatives from Australia, Japan, the Republic of Korea, United States, UK and India to discuss critical mineral production, supply chain resilience and economic security.” 

“The Territory is a key player when it comes to the global supply chains for the critical minerals required for new technologies and the energy transition. This summit cements our position on the national stage.”

Quotes attributed to Minister for Mining, Mark Monaghan:

“The Territory Labor Government will always back projects that get Territorians working.”

“It is clear that the demand for critical minerals is driving this growth in exploration, and as it stand over 4400 Territorians work within the minerals industry.”

Quotes attributable to Dr John Coyne, Head of the Northern Australia Strategic Policy Centre, ASPI:

“ASPI is proud to convene the Darwin Dialogue in the Northern Territory. Darwin and the INPEX Ichthys project provides the perfect backdrop for a dialogue on critical minerals, illustrating what is possible when like-minded countries like Japan and Australia work together.

“The Darwin Dialogue's diverse attendees provide an unprecedented opportunity for open discussion on creating competitive and resilient alternate critical minerals supply chains that commit to the highest ESG standards.”

Northern Territory Government