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Visualisation",{"filename":569},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":573,"content":574},"doc",[575,582,587,592,602,607,616,639,651,661,666,678,683,690,695,708,719,732,737,742,747,752,757,762,769],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579],{"text":580,"type":581},"Australia became the European Union’s 13th Critical Raw Materials (CRM) Strategic Partner last week in a major advance for European critical raw materials strategy.","text",{"type":576,"attrs":583,"content":584},{"textAlign":49},[585],{"text":586,"type":581},"The EU-Australia Memorandum of Understanding (MoU), signed on 28 May, will guide bilateral cooperation between the regions in critical minerals mining, refining, and recycling. ",{"type":576,"attrs":588,"content":589},{"textAlign":49},[590],{"text":591,"type":581},"The supply chains that result from the deal will feed into the clean energy sectors, including electric vehicle (EV) batteries, as well as the digital transition sectors, defence, and aerospace. ",{"type":576,"attrs":593,"content":594},{"textAlign":49},[595,600],{"text":596,"type":581,"marks":597},"“",[598],{"type":599},"italic",{"text":601,"type":581},"Australia is among the most significant of the EU’s CRM Strategic Partnerships to date given its mineral endowments, mining experience, good ESG track record, and ambition to develop mid- and downstream capabilities,” said senior policy analyst Bryan Bille.",{"type":576,"attrs":603,"content":604},{"textAlign":49},[605],{"text":606,"type":581},"Australia is a globally significant miner of lithium, cobalt, nickel, and manganese, meaning the new partnership could help the EU more easily achieve critical minerals diversification and supply security targets.",{"type":576,"attrs":608,"content":609},{"textAlign":49},[610],{"type":611,"attrs":612},"image",{"id":49,"alt":613,"src":614,"title":49,"source":49,"copyright":49,"meta_data":615},"","https://a.storyblok.com/f/287943243085208/42d0cff3aa/bm-battery-critical-minerals-v5-1.png",{},{"type":576,"attrs":617,"content":618},{"textAlign":49},[619,621,629,631,637],{"text":620,"type":581},"The ",{"text":622,"type":581,"marks":623},"EU needs CRM Strategic Partners",[624],{"type":625,"attrs":626},"link",{"href":627,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://source.benchmarkminerals.com/article/eu-needs-international-partners-for-critical-minerals-diversification","url",{"text":630,"type":581}," like Australia for security of supply as the bloc is only on track to produce 2% of its total cobalt demand in 2030, as well as 10% for nickel and 9% for lithium, according to ",{"text":632,"type":581,"marks":633},"Benchmark data",[634],{"type":625,"attrs":635},{"href":636,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://www.benchmarkminerals.com/forecasts/",{"text":638,"type":581},".",{"type":576,"attrs":640,"content":641},{"textAlign":49},[642,643,649],{"text":620,"type":581},{"text":644,"type":581,"marks":645},"CRM partnerships",[646],{"type":625,"attrs":647},{"href":648,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://source.benchmarkminerals.com/article/australian-eu-and-canadian-representatives-urge-critical-minerals-cooperation",{"text":650,"type":581}," are also designed to help the EU to achieve diversification so that it is not heavily reliant on any single third producer.",{"type":576,"attrs":652,"content":653},{"textAlign":49},[654,655,659],{"text":620,"type":581},{"text":555,"type":581,"marks":656},[657],{"type":625,"attrs":658},{"href":627,"uuid":49,"anchor":49,"target":49,"linktype":628},{"text":660,"type":581}," (CRMA), which came into force in May 2024, states that by 2030, no more than 65% of the EU’s annual consumption of strategic raw materials should come from a single ex-EU country. ",{"type":576,"attrs":662,"content":663},{"textAlign":49},[664],{"text":665,"type":581},"The EU has promised to devise a roadmap within 6 months laying out actions to implement the partnership.",{"type":576,"attrs":667,"content":668},{"textAlign":49},[669,671,677],{"text":670,"type":581},"The EU signed its first CRM Strategic partnership with Canada in 2021 and since then has secured deals with nations across Central Asia, Latin America, and ",{"text":672,"type":581,"marks":673},"Africa",[674],{"type":625,"attrs":675},{"href":676,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://source.benchmarkminerals.com/article/can-africa-fill-the-eus-critical-mineral-deficit",{"text":638,"type":581},{"type":576,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":581},"The bloc is still pursuing negotiations for a free trade agreement with Australia, which would further facilitate critical minerals supply cooperation.",{"type":684,"attrs":685,"content":687},"heading",{"level":686,"textAlign":49},4,[688],{"text":689,"type":581},"Australia’s mineral wealth",{"type":576,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":581},"Australia mines the battery minerals lithium, nickel, cobalt, and manganese as well as rare earths, an input for the permanent magnets inside EV motors.",{"type":576,"attrs":696,"content":697},{"textAlign":49},[698,700,706],{"text":699,"type":581},"The country’s main battery mineral product is lithium. In 2024, Australia is forecast to produce 34% of global lithium feedstock supply, according to ",{"text":701,"type":581,"marks":702},"Benchmark’s Lithium Forecast",[703],{"type":625,"attrs":704},{"href":705,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://www.benchmarkminerals.com/forecasts/lithium/reports/",{"text":707,"type":581},", making it the biggest single country supplier. ",{"type":576,"attrs":709,"content":710},{"textAlign":49},[711,713],{"text":712,"type":581},"In terms of nickel, Australia will be important in helping the EU diversify its nickel supply away from Indonesia, where Chinese producers are dominant. By 2028, the country is expected to produce 3% of the world’s mined nickel, according to ",{"text":714,"type":581,"marks":715},"Benchmark’s Nickel Forecast.",[716],{"type":625,"attrs":717},{"href":718,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://www.benchmarkminerals.com/forecasts/nickel/reports/",{"type":576,"attrs":720,"content":721},{"textAlign":49},[722,724,730],{"text":723,"type":581},"Australia could also become a significant producer of manganese, contributing about 15% of world supply in 2028 if the Groote Eylandt mine were to come back online, according to ",{"text":725,"type":581,"marks":726},"Benchmark’s Manganese Sulphate Outlook",[727],{"type":625,"attrs":728},{"href":729,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://www.benchmarkminerals.com/forecasts/manganese/reports/",{"text":731,"type":581},". ",{"type":576,"attrs":733,"content":734},{"textAlign":49},[735],{"text":736,"type":581},"Aside from battery minerals, Australia has a large pipeline in rare earth mines. Rare earths, which go into EV motors, are a key target of EU supply diversification as the bloc has limited domestic mining capacity and relies on China for 100% of its heavy rare earths supply.",{"type":684,"attrs":738,"content":739},{"level":686,"textAlign":49},[740],{"text":741,"type":581},"Areas of cooperation",{"type":576,"attrs":743,"content":744},{"textAlign":49},[745],{"text":746,"type":581},"EU-Australia cooperation will extend across the exploration, extraction, processing, refining, and recycling of critical minerals as well as the processing of extractive waste.",{"type":576,"attrs":748,"content":749},{"textAlign":49},[750],{"text":751,"type":581},"The MoU text emphasised that the partnership would be geared towards building sustainable supply chains through cooperating on research and innovation to minimise environmental and climate footprint and aligning ESG policy and practices between the nations.  ",{"type":576,"attrs":753,"content":754},{"textAlign":49},[755],{"text":756,"type":581},"The partnership is also set to contribute to the development of Australia’s domestic critical minerals sector.",{"type":576,"attrs":758,"content":759},{"textAlign":49},[760],{"text":761,"type":581},"The MoU also allows for Australia-EU cooperation in any part of the world where both have ‘mutual interests’ relating to critical minerals supply, such as Africa.",{"type":576,"attrs":763,"content":764},{"textAlign":49},[765],{"text":766,"type":581,"marks":767},"Join Benchmark’s premier event for the battery and EV supply chain across Asia Pacific at the Ritz Carlton Hotel, Perth, Australia, on 11-12 September 2024.",[768],{"type":599},{"type":576,"attrs":770,"content":771},{"textAlign":49},[772,779],{"text":773,"type":581,"marks":774},"Click here to find out more about Giga APAC and secure your ticket now",[775,778],{"type":625,"attrs":776},{"href":777,"uuid":49,"anchor":49,"target":49,"linktype":628},"https://benchmarkevents.benchmarkminerals.com/gigaapac24/",{"type":599},{"text":638,"type":581,"marks":780},[781],{"type":599},"Australia became the European Union’s 13th Critical Raw Materials (CRM) Strategic Partner last week in a major advance for European critical raw materials strategy. The EU-Australia Memorandum of Understanding (MoU), signed on 28 May, will guide bilateral cooperation between the regions in critical minerals mining, refining, and recycling. The supply chains that result from the […]",[784],{"slug":564,"name":565,"content":785},{"job_title":567,"image":786,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"7180d15b-6c84-4f0e-bc11-6505c066701e\", \"id\": \"\"}-->","article",[790,793,796,798,800],{"slug":791,"name":792},"critical-minerals","Critical Minerals",{"slug":794,"name":795},"geopolitics","Geopolitics",{"slug":797,"name":8},"lithium",{"slug":799,"name":150},"nickel",{"slug":801,"name":414},"rare-earths","private",{"id":49,"alt":804,"name":613,"focus":613,"title":804,"source":613,"filename":805,"copyright":613,"fieldtype":806,"meta_data":807,"is_external_url":51},"Australian and EU flags","https://a.storyblok.com/f/287943243085208/778f3c80b3/bm-european-union-and-australia.jpg","asset",{"alt":804,"title":804,"source":613,"copyright":613},"Jun 04, 2024","4th June 2024",[],[],1786376330958]