Australia revamps critical minerals strategy, targeting refining edge over China - TradingView

Canberra has reoriented its critical minerals strategy from extraction toward domestic refining and processing, the segment of the supply chain where China holds near-monopoly control and has repeatedly demonstrated willingness to impose export restrictions. Building sovereign and allied refining capacity bears directly on the inputs for AUKUS submarine construction, guided weapons manufacturing and allied defence industrial bases. Delivery remains the open question: refining projects are capital-intensive and face Chinese price suppression, so the strategy's strategic value depends on sustained funding and offtake arrangements with the United States, Japan and Europe.