A critical minerals research and development hub will be set up under a federal government strategy to capitalise on the next major mining boom and supercharge Australia's transition to net zero.
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The Albanese government's first federal budget will include a four-year, $50.5 million commitment to establish the hub, which will draw together expertise from agencies including CSIRO and Geoscience Australia.
The government has also started working on a national critical minerals strategy to help accelerate the growth of the emerging sector.
Critical minerals such as lithium are essential for the types of technologies which will drive the green energy transition, including batteries for electric vehicles.
Australia is the world's largest producer of lithium and the value of exports are forecast to grow ten-fold to almost $14 billion in 2022-23.
A domestic battery industry could add $7.4 billion a year to the national economy and support 34,700 jobs by 2030, according to government figures.
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"Australia's natural resources have powered our nation and we are committed to supporting the critical minerals sector and new clean technologies to reach our target of net zero, and make our nation an economic powerhouse with a clean energy future," Prime Minister Anthony Albanese said.