neutral location with diverse supply chain optionality and a strong export focused economy. WA can also offer an ethical supply chain that is growing in importance to end- user consumers worldwide. The New Energy metals value-adding industry can create significantly more value and jobs compared to the traditional limited mining approaches. The strategic and economic importance of Australia will grow creating further opportunities for a West Coast trading, manufacturing and maritime security hub. 5.1 European Union assessment of Critical Raw Materials Countries around the world are increasingly emphasising the importance of Critical Raw Materials due to market influences, security and governance issues and the increasing demand for new elements. In February 2018 the US Government published a list of 35 CRMs that “Any shortage of these resources constitutes a strategic vulnerability for the security and prosperity of the United States.” 48 WA has the majority of these CRMs.
“
"The question is "do we have the hardness for this?" Firstly, beyond perhaps a little secondary processing the miners have no interest in this and the ownership structure is keyed in part to where processing is done. Secondly - this is an area of jealousy guarded patents. Those who hold them are every bit as nationalist as ourselves. They will be prone to emotionalism as well as rational decision. Thirdly - though decisions can't be made by companies alone. This effort requires close government engagement. Necessary not to pick winners here but to back all players to be here." Honourable Kim Beazley AC Governor of Western Australia - 24th May 2018
48 Volcovici, Valerie and Taylor, Susan (2018), "U.S. seeks to boost output of 35 minerals, reduce import reliance", Reuters, 17 February 2018, https://af.reuters. com/article/drcNews/idAFL2N1Q61KS . (Accessed: 30 May 2018)
Page 51
Made with FlippingBook Ebook Creator