Antimony, gallium, rare earths: inside the national strategic reserve

Australia is building a stockpile. Resources Minister Madeleine King said in January that the Critical Minerals Strategic Reserve would be operating by the end of the year, starting with antimony, gallium and rare earths, three materials essential to defence, clean energy and advanced manufacturing.

The money comes in two parts: A$1 billion for reserve transactions, drawn from the A$5 billion Critical Minerals Facility, and A$185 million for stockpiling and implementation. The Department of Industry, Science and Resources oversees the transactions, and new laws will widen Export Finance Australia’s powers to support them.

The reserve follows the October 2025 agreement between Australia and the United States, under which both committed more than US$1 billion each to initial projects, including antimony mines.

For Australian miners and processors, the reserve means a government buyer of last resort for materials whose prices are set largely offshore.