Critical Minerals and Rare Earths
Critical minerals and rare earths play a critical role in the Australia-Korea bilateral relationship, supporting clean energy, battery supply chains, advanced manufacturing, defence, and future technologies. Australia is a global leader in critical minerals production, producing around 50% of the world’s lithium and ranking among the world’s leading producers of cobalt and rare earth elements.
Korea’s globally competitive battery, automotive, electronics, and manufacturing industries continue to drive strong demand for secure and diversified critical minerals supply chains. Australia and Korea strengthened cooperation through the 2021 Australia-Republic of Korea Memorandum of Understanding on Cooperation in Critical Mineral Supply Chains, with both countries expanding collaboration across mining, processing, refining, battery materials, and clean energy technologies. Korean Government agencies including the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), Export-Import Bank of Korea (KEXIM), and Korea Trade Insurance Corporation (K-SURE) are also playing an increasingly important role in supporting overseas critical minerals investment, financing, and resource security partnerships. AKBC maintains strong relationships with these organisations and regularly facilitates engagement between Australian and Korean stakeholders across the sector.
Korean investment in Australia has grown significantly over the past decade. Major Korean companies including POSCO Holdings continue expanding investment across Australia’s lithium and battery materials sectors. In 2025, POSCO also established the Australia Critical Minerals R&D Laboratories in Perth to support collaboration across battery materials, rare earths, and advanced processing technologies.
Recent activities
Hosted the Canberra Leadership Summit 2026 session on “Critical Minerals, LNG and Resources for Australia’s Future” featuring the Hon Madeleine King MP, Minister for Resources and Minister for Northern Australia (2026)
Facilitated engagement through the WA-Korea Business Forum and WA Premier’s Roundtable involving Australian and Korean government and industry stakeholders (2025)
Hosted Critical Minerals Industry Group meetings on supply chains, investment, and Australia-Korea collaboration opportunities (2025)
Hosted the Australia-Korea Critical Minerals Roundtable with the Hon Madeleine King MP as part of the AKBC-KABC Joint Meeting in Perth (2024)
Led engagement with Korean stakeholders through the Chairman’s Energy Transition and Decarbonisation Delegation to Korea (2024)
Hosted a dedicated session on Australia-Korea collaboration and investment opportunities and facilitated networking engagement at IMARC (2024)
Published the report “Critical Minerals, Urgent Opportunities,” highlighting strategic opportunities for Australia-Korea cooperation (2021)
Australia–Korea Critical Minerals Roundtable with the Hon Madeleine King MP, as part of the 45th AKBC-KABC Joint Meeting in Perth (2024)
Why join
Critical minerals and rare earths are central to the future of the Australia-Korea economic and strategic partnership. As both countries continue strengthening clean energy supply chains, advanced manufacturing capabilities, and energy security, there are growing opportunities for collaboration across mining, processing, technology, investment, and downstream industries.
