[{"data":1,"prerenderedAt":858},["ShallowReactive",2],{"story-article/what-australia-s-2026-critical-minerals-update-means-for-rare-earths-and-lithium":3,"ticker-data":315},{"id":4,"uuid":5,"name":6,"slug":7,"full_slug":8,"content":9,"relatedArticles":313,"relatedVideos":314},235853932231657,"9286b78d-7e3a-46ee-84cd-a18a5c482e4c","What Australia's 2026 critical minerals update means for rare earths and lithium","what-australia-s-2026-critical-minerals-update-means-for-rare-earths-and-lithium","article/what-australia-s-2026-critical-minerals-update-means-for-rare-earths-and-lithium",{"_uid":10,"date":11,"tags":12,"editor":25,"content":35,"excerpt":230,"featured":231,"reporter":232,"component":252,"seo_title":253,"categories":254,"visibility":272,"data_vis_image":273,"featured_image":278,"seo_description":282,"side_panel_banner":283,"formattedDate":311,"formattedArticleDate":312},"54cd78bd-12cd-4540-a523-bd97d95ef8fd","2026-10-29 00:00",[13,16,19,22],{"slug":14,"name":15},"australia","Australia",{"slug":17,"name":18},"europe","Europe",{"slug":20,"name":21},"arafura-rare-earths","Arafura Rare Earths",{"slug":23,"name":24},"data-visualisation","Data Visualisation",[26],{"slug":27,"name":28,"content":29},"benjamin-roche","Benjamin Roche",{"job_title":30,"image":31,"bio":33,"linkedin":34},"Editor – Energy Transition Supply Chains",{"filename":32},"https://a.storyblok.com/f/287943243085208/800x800/66d6674fb8/benjamin-roche.png","Benjamin is Benchmark's Editor for Energy Transition Supply Chains, covering both upstream products like critical minerals and downstream products including energy storage systems and electric vehicles. He has previous experience covering trade flows, tariffs and the effects of geopolitics on supply chains.","https://www.linkedin.com/in/benjaminrochecontent/",{"type":36,"attrs":37,"content":39},"doc",{"backgroundColor":38},null,[40,69,91,96,112,134,156,167,179,210,215,223],{"type":41,"attrs":42,"content":43},"paragraph",{"textAlign":38},[44,52,64],{"text":45,"type":46,"marks":47},"Australia has given greater priority to national security and economic resilience in an update to its critical minerals strategy, a shift from a 2023 edition that placed heavier emphasis on climate goals. It also highlights the importance of international partnerships and targets ","text",[48],{"type":49,"attrs":50},"textStyle",{"color":51},"#000000",{"text":53,"type":46,"marks":54},"government efforts",[55,62],{"type":56,"attrs":57},"link",{"href":58,"uuid":59,"anchor":38,"target":60,"linktype":61},"/article/australias-a2-billion-critical-minerals-fund-backs-integrated-graphite-anode-projects","47cfcd55-2eef-4885-89e8-7914df0f6b29","_blank","story",{"type":49,"attrs":63},{"color":51},{"text":65,"type":46,"marks":66}," where they can have the greatest comparative advantage by expanding domestic processing and refining.",[67],{"type":49,"attrs":68},{"color":51},{"type":41,"attrs":70,"content":71},{"textAlign":38},[72,77,86],{"text":73,"type":46,"marks":74},"The 2026 update to the Critical Minerals Strategy 2023–2030 keeps the 2030 vision and six focus areas, but ",[75],{"type":49,"attrs":76},{"color":51},{"text":78,"type":46,"marks":79},"critical minerals",[80,84],{"type":56,"attrs":81},{"href":82,"uuid":83,"anchor":38,"target":60,"linktype":61},"/article/us-invests-2-billion-in-critical-mineral-and-material-supply-chains","84c4211a-606e-40f3-9abc-1cb4604a2c31",{"type":49,"attrs":85},{"color":51},{"text":87,"type":46,"marks":88},", it says, \"are no longer a resources issue\". It announces no new money, restating existing commitments including the AUD 17.5 billion (USD 12.3 billion) Production Tax Incentive and a AUD 5 billion (USD 3.5 billion) Critical Minerals Facility. The update was discussed by Australian mining minister Madeline King at the International Mining and Resources Conference (IMARC) in Sydney on 27–29 October, where Benchmark lithium product director Dr Cam Perks was in attendance.",[89],{"type":49,"attrs":90},{"color":51},{"type":41,"attrs":92,"content":93},{"textAlign":38},[94],{"text":95,"type":46},"\"Supply chain resilience has displaced net zero,\" said Perks. \"Defence spending is part of this, and will outlast political cycles.\"",{"type":41,"attrs":97,"content":98},{"textAlign":38},[99,107],{"type":100,"attrs":101},"image",{"id":102,"alt":103,"src":104,"title":103,"source":103,"copyright":103,"meta_data":105},235885616654290,"","https://a.storyblok.com/f/287943243085208/800x1066/7f56e24b82/cam-snake.jpg",{"size":106},"800x1066",{"text":108,"type":46,"marks":109},"Benchmark lithium product director Dr Cam Perks attended IMARC 2026 in Sydney, Australia",[110],{"type":111},"italic",{"type":41,"attrs":113,"content":114},{"textAlign":38},[115,120,129],{"text":116,"type":46,"marks":117},"It also concedes that markets alone will not deliver diversified supply. Its answer is the previously announced AUD 1.2 billion (USD 840 million) Strategic Reserve, largely drawn from the Critical Minerals Facility, which can sign offtake agreements, trade forward, aggregate buyers, and stockpile selectively. It can also offer contracts-for-difference, which provide both a ",[118],{"type":49,"attrs":119},{"color":51},{"text":121,"type":46,"marks":122},"price floor",[123,127],{"type":56,"attrs":124},{"href":125,"uuid":126,"anchor":38,"target":60,"linktype":61},"/article/lynas-rare-earths-signs-us-96m-rare-earth-offtake-and-price-floor-commitment-with-dow","f74b2983-4b5a-494e-8eae-ce776123a85e",{"type":49,"attrs":128},{"color":51},{"text":130,"type":46,"marks":131}," and a ceiling, with Australian taxpayers getting the upside if it exceeds the ceiling.",[132],{"type":49,"attrs":133},{"color":51},{"type":41,"attrs":135,"content":136},{"textAlign":38},[137,142,151],{"text":138,"type":46,"marks":139},"The Reserve initially targets only gallium, antimony and rare earths. It is already operational, and has struck a first offtake agreement that reportedly contributed to Arafura's FID on the ",[140],{"type":49,"attrs":141},{"color":51},{"text":143,"type":46,"marks":144},"Nolans rare earths project",[145,149],{"type":56,"attrs":146},{"href":147,"uuid":148,"anchor":38,"target":60,"linktype":61},"/publications/analysis/arafura-rare-earths-secure-further-investment-for-nolans-project","6060a16f-45e2-4e66-b3ca-bad6fb6dc7e1",{"type":49,"attrs":150},{"color":51},{"text":152,"type":46,"marks":153},". Rare earths dominated conversations at IMARC, said Perks, and it was noted that, \"as small, concentrated markets exposed to Chinese export controls, modest rare earths purchases can shift outcomes\".",[154],{"type":49,"attrs":155},{"color":51},{"type":157,"attrs":158},"blok",{"id":159,"body":160},"a222c9f7-8bd2-40d4-9b4e-207fcd7e876a",[161],{"id":162,"_uid":163,"type":164,"component":165,"fixed_height":103,"use_fixed_height":166,"fixed_height_mobile":103,"fixed_height_tablet":103},"30735365","i-dc311af7-3af7-4167-9053-811ec7209146","visualisation","ContentFlourish",false,{"type":168,"attrs":169,"content":171},"heading",{"level":170,"textAlign":38},2,[172],{"text":173,"type":46,"marks":174},"Lithium to receive no additional support",[175,177],{"type":49,"attrs":176},{"color":51},{"type":178},"bold",{"type":41,"attrs":180,"content":181},{"textAlign":38},[182,191,196,205],{"text":183,"type":46,"marks":184},"Lithium",[185,189],{"type":56,"attrs":186},{"href":187,"uuid":188,"anchor":38,"target":60,"linktype":61},"/article/lithium-industry-needs-the-equivalent-of-134-new-mines-by-2050-to-meet-growing-demand","ebe23fcd-0e1c-4dd3-a6c6-704031716f34",{"type":49,"attrs":190},{"color":51},{"text":192,"type":46,"marks":193}," gets no additional support under the new plan, despite underpinning much of the document's case. Five of the 15 projects counted as new producers since 2023 are lithium, yet support is unchanged: a 10% refining tax incentive from July 2027, plus project finance. ",[194],{"type":49,"attrs":195},{"color":51},{"text":197,"type":46,"marks":198},"Spodumene",[199,203],{"type":56,"attrs":200},{"href":201,"uuid":202,"anchor":38,"target":60,"linktype":61},"/article/lithium-price-reversal-gets-respite-then-deepens-q3-2026-lithium-price-review","9596343b-2e90-41a5-89c9-25abbca33488",{"type":49,"attrs":204},{"color":51},{"text":206,"type":46,"marks":207}," concentrate is not covered.",[208],{"type":49,"attrs":209},{"color":51},{"type":41,"attrs":211,"content":212},{"textAlign":38},[213],{"text":214,"type":46},"Perks said that the refreshed strategy \"did not add anything for lithium at all, despite its China price exposure and rising importance to WA economy\".",{"type":41,"attrs":216,"content":217},{"textAlign":38},[218],{"text":219,"type":46,"marks":220},"To reduce dependence on Chinese buyers requires the development of domestic and Western refining capacity to create stronger ex-China lithium demand. Joint European co-financing of Australian projects, as floated by speakers at IMARC, would make Europe a customer as well as a funder. As one participant put it, investment needs to be on both sides.",[221],{"type":49,"attrs":222},{"color":51},{"type":157,"attrs":224},{"id":225,"body":226},"a1797918-f9ec-44f3-8b90-97809e878f64",[227],{"id":228,"_uid":229,"type":164,"component":165,"fixed_height":103,"use_fixed_height":166,"fixed_height_mobile":103,"fixed_height_tablet":103},"30733732","i-40860b0e-3d0e-40b2-be0b-0edc227baa20","Australia has given greater priority to national security and economic resilience in an update to its critical minerals strategy, a shift from a 2023 edition that placed heavier emphasis on climate goals. It also highlights the importance of international partnerships and targets government efforts where they can have the greatest comparative advantage by expanding domestic processing and refining.\n\nThe 2026 update to the Critical Minerals Strategy 2023–2030 keeps the 2030 vision and six focus areas, but critical minerals, it says, \"are no longer a resources issue\". It announces no new money, restating existing commitments including the AUD 17.5 billion (USD 12.3 billion) Production Tax Incentive and a AUD 5 billion (USD 3.5 billion) Critical Minerals Facility. The update was discussed by Australian mining minister Madeline King at the International Mining and Resources Conference (IMARC) in Sydney on 27–29 October, where Benchmark lithium product director Cam Perks was in attendance.",true,[233,242],{"slug":234,"name":235,"content":236},"cameron-perks","Cameron Perks",{"job_title":237,"image":238,"bio":240,"linkedin":241,"markets_covered":183},"Product Director - Lithium",{"filename":239},"https://a.storyblok.com/f/287943243085208/512x512/5504398139/cam-perks.png","Dr Cameron Perks is a leading global lithium expert and currently serves as Product Director for Lithium at Benchmark Mineral Intelligence. With over a decade of experience in opaque mineral markets, he has led market strategy, pricing analysis, and bespoke consulting for clients ranging from junior explorers to OEMs and institutional investors. He was previously a consultant at TZMI, a geologist with the Geological Survey of NSW, and holds a PhD in Environmental Engineering.","https://www.linkedin.com/in/cameronperks/",{"slug":243,"name":244,"content":245},"bryan-bille","Bryan Bille",{"job_title":246,"image":247,"bio":249,"linkedin":250,"markets_covered":251},"Lead Analyst - Government Policy",{"filename":248},"https://a.storyblok.com/f/287943243085208/512x512/1491bc3cc9/bryan-bille.jpeg","Bryan has more than 8 years of policy and geopolitical experience covering numerous areas, such as international trade, industrial policy, critical minerals, battery and EV supply chains and the broader energy transition. Bryan currently oversees Benchmark Mineral Intelligence’s policy and geopolitical coverage and leads Benchmark’s strategic outreach to policymakers. Before joining Benchmark, Bryan obtained a degree in corporate law from the University of Antwerp and an international political economy degree from King’s College London. He also held various positions within the Belgian diplomatic corps and politics, where he was involved in multiple policy issues and international negotiations at the EU level. ","https://www.linkedin.com/in/bryanbille/","Critical Mineral, Battery and EV Supply ","article","What Australia's 2026 critical minerals update means for industry",[255,257,260,263,266,269],{"slug":256,"name":183},"lithium",{"slug":258,"name":259},"rare-earths","Rare Earths",{"slug":261,"name":262},"critical-minerals","Critical Minerals",{"slug":264,"name":265},"geopolitics","Geopolitics",{"slug":267,"name":268},"raw-materials","Raw Materials",{"slug":270,"name":271},"gallium","Gallium","private",{"id":274,"alt":103,"name":103,"focus":103,"title":103,"source":103,"filename":275,"copyright":103,"fieldtype":276,"meta_data":277,"is_external_url":166},235888193108419,"https://a.storyblok.com/f/287943243085208/1588x1202/0c321c8b5d/australia-s-mined-lithium-output-is-forecast-to-be-overtaken-by-china-despite-growing-45-by-2030-2x.png","asset",{},{"id":279,"alt":103,"name":103,"focus":103,"title":103,"source":103,"filename":280,"copyright":103,"fieldtype":276,"meta_data":281,"is_external_url":166},129065168184895,"https://a.storyblok.com/f/287943243085208/0e98b17d9b/bm-australia-flags.jpg",{},"Australia has given greater priority to national security and economic resilience in an update to its critical minerals strategy, a shift from a 2023 edition that placed heavier emphasis on climate goals.",{"name":183,"created_at":284,"published_at":285,"updated_at":286,"id":287,"uuid":288,"content":289,"slug":256,"full_slug":303,"sort_by_date":38,"position":304,"tag_list":305,"is_startpage":166,"parent_id":306,"meta_data":38,"group_id":307,"first_published_at":308,"release_id":38,"lang":309,"path":38,"alternates":310,"default_full_slug":38,"translated_slugs":38,"_stopResolving":231},"2026-07-28T09:33:34.132Z","2026-09-24T16:04:00.777Z","2026-09-24T16:04:00.791Z",202922451515792,"fdb9ab07-8995-493a-8ee4-a3472db7c645",{"cta":290,"_uid":294,"image":295,"title":299,"subtitle":300,"component":301,"description":302},{"id":103,"url":291,"linktype":292,"fieldtype":293,"cached_url":291},"https://www.benchmarkminerals.com/lithium","url","multilink","cdf9420e-a380-45bf-82e9-62516cae7ec6",{"id":296,"alt":103,"name":103,"focus":103,"title":103,"source":103,"filename":297,"copyright":103,"fieldtype":276,"meta_data":298,"is_external_url":166},202923041788829,"https://a.storyblok.com/f/287943243085208/4096x3072/b42fd40049/lithium.png",{},"Benchmark's Lithium Service","World-Leading Lithium Intelligence","ContentBanner","Asset-level supply, demand and costs to 2050. 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