Australia already has sector cooperation agreements with the United States, Japan, South Korea, India, France, Germany and Britain, and recently joined the G7 Critical Minerals Production Alliance while signing an EU free trade agreement to ease access to Australian minerals.

Resources Minister Madeleine King says France is increasingly eager to invest in Australia’s critical minerals sector as partners seek diverse, non-China supply chains for essential electronics and defense materials.

France’s interest follows Australia’s framework agreement with the United States, with other advanced economies also exploring investment opportunities in Australia’s growing critical minerals industry.

The government emphasizes a long-term, scalable approach to building critical minerals capability, noting the lengthy timelines seen in China and aiming to expedite progress.

Australia is establishing a A$1.2 billion strategic reserve focused on antimony, gallium and rare earths to supply partners, expected to be operational in the second half of the year, with potential floor-price elements.

An A$1.2 billion strategic reserve is being developed to back antimony, gallium and rare earths, with an expected operational date in the second half of the year and possible price floors and upside-sharing arrangements.

The strategic reserve for antimony, gallium and rare earths aims to support partner nations, incorporating price floor mechanisms and potential upside benefits for Australia.

Prime ministers and ministers say many countries must participate in mining-style financing to secure reliable supply, and Australia plans to expedite development while recognizing the decades-long timelines typical of the sector.

The government is pursuing billions in investment for 49 mining projects and 29 midstream processing ventures, targeting around A$18 billion in export earnings next year, with A$28 billion in sector support since May 2022.

Minister King notes the need for long-term planning, highlighting Australia’s A$28 billion in financial backing since May 2022 and comparing development timelines to China’s multi-decade path.

The U.S. is building a $12 billion minerals stockpile called Project Vault, and Australia’s strategic reserve is envisioned as a catalyst to feed into this program.

France has engaged at policy and financing levels through entities like Bpifrance Assurance Export but has not yet announced large-scale Australian project funding, unlike the U.S. and Japan, with requests for comment from the French trade commission in Sydney left unanswered.