Australia's Critical Minerals List and Strategic Materials List
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Australia keeps two lists. The Critical Minerals List has 31 entries and the Strategic Materials List has five materials: aluminium, copper, phosphorus, tin and zinc. The Critical Minerals Office published both on 20 June 2023 and last updated them on 20 February 2024, and the government says it will review them at least every three years. A strategic material passes the same tests as a critical mineral except that its supply chain is not currently vulnerable enough.
31
entries in the department's table for the Critical Minerals List
5
strategic materials: aluminium, copper, phosphorus, tin and zinc
A$1 billion
drawn from the expanded A$5 billion Critical Minerals Facility for the strategic reserve, plus A$150 million for stockpiling
10%
refundable offset on eligible processing costs from 1 July 2027 to 30 June 2040
How do Australia's two lists work together with its programs?
Australia ties each list to different policy tools, so the list a mineral sits on decides which support it can use. The strategic reserve draws its minerals from the Critical Minerals List, and the production tax incentive covers critical minerals but explicitly excludes the Strategic Materials List.
| Item | What it covers | Key terms |
|---|---|---|
| Critical Minerals List | 31 entries essential to Australia's technologies, economy and security, with geological potential in Australia, demand from partners and a vulnerable supply chain. | Published 20 June 2023; updated 20 February 2024; review at least every three years. |
| Strategic Materials List | Five materials that meet the same tests except for supply chain vulnerability. | Government says it will keep supporting extraction and processing and monitor their markets. |
| Critical Minerals Strategic Reserve | Secures rights to an initial subset of critical minerals: antimony, gallium, neodymium and praseodymium, and dysprosium and terbium. | A$1 billion from the Critical Minerals Facility plus A$150 million for stockpiling; established by the Export Finance and Insurance Corporation Amendment (Strategic Reserve) Act 2026. |
| Critical Minerals Production Tax Incentive | Processing and refining of minerals listed in Division 419 of the Income Tax Assessment Act 1997. Strategic Materials List items are not eligible. | 10% refundable, uncapped offset; 1 July 2027 to 30 June 2040; up to 10 years per registered activity. |
Sources: the two lists, the strategic reserve and the production tax incentive, all from the Department of Industry, Science and Resources.
What test separates critical minerals from strategic materials?
Critical minerals must be essential to Australia's technologies, economy and national security (specifically the priority technologies in the Critical Minerals Strategy), have geological potential in Australia, be in demand from strategic international partners and be vulnerable to supply chain disruption. Strategic materials meet the first three tests, but their supply chains are not currently vulnerable enough to qualify. The Minister for Resources may update the Critical Minerals List in response to global strategic, technological, economic or policy changes.
How do the strategic reserve and the tax incentive differ?
The strategic reserve buys security of supply and the tax incentive lowers processing costs. The reserve secures rights to Australian-produced minerals and sells them on to partners, using offtake agreements, forward contracts, aggregation, stockpiling and contracts for difference that set price floors and ceilings. Projects must relate to extracting or processing in Australia, fall within the initial mineral subset, have completed a pre-feasibility study or be able to complete one quickly, and need at least A$20 million of support. The incentive pays 10% of eligible processing expenditure but excludes mining, beneficiation, manufacturing, capital expenditure and feedstock costs.
What is in this section?
| Page | Question it answers |
|---|---|
| The 31 critical minerals | Which minerals are on the list, what is Australia's geological potential and how much did it produce in 2022? |
| The five strategic materials | Why are aluminium, copper, phosphorus, tin and zinc treated differently? |
| Compare the lists | How does Australia's list differ from the U.S., EU and Canadian lists? |
Frequently asked questions
How many critical minerals does Australia have?
Australia's Critical Minerals List has 31 entries in the department's table, including rare earth elements and platinum group elements as single entries. The government last updated the list on 20 February 2024.
What are Australia's strategic materials?
Australia's Strategic Materials List has five materials: aluminium, copper, phosphorus, tin and zinc. They matter for the net zero transition and strategic applications, but their supply chains are not currently vulnerable enough for the Critical Minerals List.
What is the Critical Minerals Strategic Reserve?
The Critical Minerals Strategic Reserve secures rights to Australian-produced critical minerals and sells them to partners, with an initial focus on antimony, gallium, neodymium and praseodymium, and dysprosium and terbium. It draws on A$1 billion from the Critical Minerals Facility plus A$150 million for stockpiling, under an Act passed in 2026.
Are strategic materials eligible for the processing tax incentive?
No. The Critical Minerals Production Tax Incentive excludes minerals on the Strategic Materials List. It offers a 10% refundable offset on eligible processing costs for the minerals named in the Income Tax Assessment Act 1997, and the Act's list can differ from the Critical Minerals List.
Sources
Read on October 12, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.
- Department of Industry, Science and Resources: Australia's Critical Minerals List and Strategic Materials List. Published 20 June 2023, updated 20 February 2024; page read in a browser because the site times out for automated readers
- Department of Industry, Science and Resources: Critical Minerals Strategic Reserve
- Department of Industry, Science and Resources: Critical Minerals Production Tax Incentive
