Australia will press its case as a critical minerals powerhouse this week as Treasurer Jim Chalmers travels to the United States for high-level meetings with G7 finance ministers and key international partners.
Chalmers said the visit was focused on ensuring Australian workers and businesses benefit from major global shifts, arguing that critical minerals sit at the centre of the next phase of economic competition and cooperation.
“This is all about making Australian workers and businesses big beneficiaries of the big shifts that are shaping the global economy,” he said.
With demand for lithium, rare earths and other inputs accelerating, Chalmers framed Australia’s resource base as a strategic advantage in an increasingly uncertain world. “The world needs critical minerals, Australia has plenty of them, and that’s where we see a big opportunity,” he said.
The Treasurer will join finance ministers from all G7 countries, alongside counterparts from India, Mexico and the Republic of Korea, for discussions aimed at strengthening and diversifying global supply chains. He said the benefits of this cooperation extend beyond national borders, while remaining particularly strong for Australia.
“Everyone benefits from stronger and more diverse critical minerals supply chains, but especially Australia, and that’s what this work is all about,” Chalmers said.
Alongside multilateral talks, Chalmers will hold bilateral meetings in Washington DC with US Treasury Secretary Scott Bessent, UK Chancellor Rachel Reeves, Japanese Finance Minister Satsuki Katayama and Canadian Minister of Finance and National Revenue François-Philippe Champagne.
The Treasurer will join finance ministers from all G7 countries, alongside counterparts from India, Mexico and the Republic of Korea, for discussions aimed at strengthening and diversifying global supply chains
Chalmers said these meetings would be used to underline Australia’s credentials as a stable and attractive destination for investment, while also exchanging views on the global economic outlook.
“In these meetings, my focus will be on showcasing Australia’s strengths as an investment destination, promoting resilience in global markets and sharing insights on the global economic outlook,” he said.
A central part of that message will be Australia’s plans to deepen its role in global supply chains through policy settings and public investment. Chalmers said he would brief counterparts on Australia’s Critical Minerals Strategic Reserve, which is being developed by Resources Minister Madeleine King.
He described the initiative as a way of boosting domestic capacity while also supporting international partners. “As part of this, I’ll update my international colleagues on Australia’s Critical Minerals Strategic Reserve, under development by Minister for Resources Madeleine King, which is all about boosting Australia’s critical minerals sector and strengthening supply chains for our international partners,” he said.
The visit comes against a backdrop of rising geopolitical tension and growing concern about the concentration of supply chains in a handful of jurisdictions. Chalmers said this made international coordination more urgent.
“In the face of growing global uncertainty and ongoing geopolitical tensions, this is a critical time to confer with counterparts,” he said.
He argued that cooperation in this area could help shield economies from shocks while ensuring communities share in the gains from structural change. “Collaborating on critical minerals will help to make our economies and our supply chains stronger and more resilient and make our people big beneficiaries of global churn and change,” Chalmers said.
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