Australia Launches Strategic Mineral Reserve

0:00It's March 25, I'm Cory with the story. This is Global News, driven by AI and built for a global audience. Australia is launching a strategic reserve for critical minerals, complete with a floor price to keep supply steady, resources. Minister Madeline King shared this plan at a summit in Canberra on March 25 as the country pushes to lead in global mineral markets. The reserve comes with $1.2 billion in funding, roughly $793 million US dollars. It should be fully operational by the second half of 2026 after consulting industry experts on the best price level. These minerals, like rare earths, power everything from electric vehicles to defense tech. China's grip on over 80% of production and refining, plus last year's export curves, rattled industries worldwide, and sparked a rush to diversify sources. To boost this effort, Australia is adding $4 billion dollars through its export finance

1:00agency and a northern infrastructure fund to pull. In private investors, officials say these are big, long haul projects that need steady government backing. Overall, these steps position Australia as a trusted ally in reshaping secure supply chains for the future.