The concept of critical minerals, responsible sourcing, and mining is intertwined, and responsible sourcing is expanding beyond the automotive industry to encompass sectors reliant on minerals, such as the renewables sector.

Australia plays a vital role as a provider of critical minerals for the energy transition, emphasising its leadership with the newly launched 2030 Critical Minerals Strategy. This is particularly significant as resource-rich countries such as Indonesia and Chile lean towards protectionism and nationalisation.

Australian companies can focus on improved performance in critical areas like greenhouse gas emissions and site rehabilitation, gaining a competitive edge via ESG performance differentiation. In this sense, responsible sourcing presents opportunities for branding, partnerships, and creating positive impacts throughout the value chain.

These sustainable practices are translating into unprecedented levels of innovation. It is crucial for companies and state bodies to foster such dynamics, champion innovation and pursue circular economies. This entails holistic measurement and management for life-of-mine assessments, considering the outputs of operations such as minerals (i.e., initiatives like traceability), and inputs (initiatives like integrated water basin management).
Australian companies must embrace their responsibilities as critical mineral providers. Mining companies should anticipate increasing pressures from EU and domestic regulation, and work from mine-site towards downstream transparency and sustainability along value chains.