During a meeting in Canberra on February 5, German Foreign Minister Johann Wadephul announced plans to deepen the partnership with Australia in the supply of key resources. As reported by DW, Wadephul noted that significant reserves of lithium and other strategic materials are located on Australian soil, and Berlin is interested in further cooperation, especially concerning critical minerals.
Australia is home to the world's largest lithium mine, located in Greenbushes in the west of the country. Lithium, often referred to as "white gold," is used in the production of batteries for electric vehicles, smartphones, and other electronics. This mine accounts for about 20% of the global production of this metal.
Additionally, Australia has large reserves of rare earth elements, such as neodymium and terbium, which are used in the production of powerful magnets.
According to Wadephul, significant investments will be required to develop these resources, and Germany has an acute need for such supplies. He also emphasized the importance of quickly signing a free trade agreement between the European Union and Australia. Negotiations on this matter in 2023 did not yield results due to disagreements over agricultural products; however, both sides hope for a resumption of dialogue.
At the same time, the United States announced the signing of eleven new bilateral agreements and memoranda of cooperation in the field of critical mineral mining with several countries, including Argentina, the Cook Islands, Ecuador, Guinea, Morocco, Paraguay, Peru, the Philippines, the UAE, and Uzbekistan.
