Doorstop, ANU National Security College

MINISTER MADELEINE KING: Thanks, everyone. It's a delight to be here at the National Security College and the Australian National University to talk about critical minerals and rare earths. And as you can see behind me, the scientific powerhouse that is the Australian National University and the work it is doing to progress Australia's sovereign capacity in the processing of critical minerals and rare earths. Today, we released the Resources and Energy Quarterly. And I'll just say something very brief about that. It once again reassures the Australian public of the great contribution the resources sector makes in the Australian economy. Over 300,000 jobs and accounts for 11 per cent of the gross domestic product of this country. That's a significant contribution and an unmatched contribution to our national prosperity. That relies on traditional commodities such as iron ore, coal, LNG, gold and increasingly lithium, one of the critical minerals. But into the future, and as the remarks I said earlier today at the ANU, we will need, and we indeed are committed to developing a Future Made in Australia and part of that will be in the development of critical minerals and rare earths, not only mining, but also processing and along the value chain. So, with that, I am open to taking any questions and I believe there is someone here that will do that.

ANDREW PROBYN: Minister, can you hear me?

MINISTER MADELEINE KING: I can.

ANDREW PROBYN: Andrew Probyn here from Nine News. What concerns do you have for the way that China has tried to dominate the critical mineral sector in Australia?

MINISTER MADELEINE KING: Well, over many years, China has invested in critical minerals as part of its, you know, ongoing modernisation and development, invested in the science, invested in the processing to make sure it became, you know, a part of its strategic economic outlook. And that's, you know, I've said this before, hats off to them for making sure they did that. So, my ambition for Australia is that we make the most of our clear geological advantage and compete in that space. And perhaps we should have started doing that many years ago, but under this government we are determined to make sure we do that well into the future. And that is good for Australia, good for our national interests, good for our security and economic interests. But equally, it's good for other countries around the world that see the value in having diverse supply chains of those commodities that have been subject to export restrictions and quite strict export restrictions in the past and actually right now.

ANDREW PROBYN: But are you worried by clear examples of foreign interference, including the share registry of prominent companies that are trying to establish a critical mineral supply?

MINISTER MADELEINE KING: Well, the thing about investing in Australian resources is, you know, those resources are in fact located here. So, that investment, if it's to be in any way interference, the greatest risk is that it prevents these projects being developed. So we have a Foreign Investment Review Board, they have a very well established practice. I certainly will not comment on any specific cases but the review board is there for a reason and that's to monitor particular investments but also those share registers. And you've seen - the Australian people indeed have seen the public announcements in regard to Foreign Investment Review Board decisions by the Treasurer and I won't comment any further on them but obviously they are there out in the open for all to see.

ANDREW PROBYN: What's your message to Beijing which is trying to use the share registry to stop certain projects going ahead?

MINISTER MADELEINE KING: I don't have a particular message in that regard. My only message and it's not to any one country in particular, it's more about Australia's focus and the focus of the Government of Australia to create a critical minerals and rare earths mining and processing industry

SPEAKER: Thank you everyone, I think we better wrap it up.

MINISTER MADELEINE KING: Thanks Andrew.