Darwin Dialogue Special: Resources Minister Madeleine King on Australia's critical minerals strategy

Critical minerals and rare earths are atomic marvels — and geopolitical nightmares. They’re vital in high-end technologies including defence equipment but are traded in markets that are all but broken, with China dominating overwhelming shares of production. This week, Madeleine King, Minister for Resources and Minister for Northern Australia, joins Stop the World to talk about the challenges Australia and its international friends face in building some kind of functioning market to ensure we don’t face supply crises that could threaten our economies or security. Speaking from the sidelines of ASPI’s third annual Darwin Dialogue on critical minerals, Madeleine talks about the failure of the market, the need for intervention, what connected supply chains will look like in the future, the kinds of cooperation Australia is pursuing with Japan, the United States, Korea, Canada and Europe, and the vital importance of trust. She discusses China’s own highly interventionist approach that enabled it to dominate the market, Australia’s own strengths, global trends towards resource and economic nationalism, and the wake up call last year when China forced a partial tariffs backdown from the US by threatening to cut off vital critical minerals supplies.