Canada and Australia sign landmark agreement on critical minerals cooperation

In a significant move to strengthen global critical minerals supply chains, Canada and Australia have signed a joint declaration of intent (JDI) to collaborate on critical minerals production and trade. The agreement, signed on November 1, 2025, aims to reduce reliance on single sources and enhance economic prosperity for both nations.

Canadian Minister for Resources and Energy, Tim Hodgson, and Australian Minister for Resources and Northern Australia, Madeleine King, inked the deal in Toronto. The agreement recognizes the strategic importance of critical minerals for economic and national security, including defense applications, energy transition, and advanced manufacturing.

The JDI outlines several key objectives:

1. Strengthen cooperation in the critical minerals value chain
2. Facilitate public investments in mutually beneficial projects
3. Encourage commercial partnerships and research collaborations
4. Address policy challenges faced by producer nations

The agreement focuses on various areas of cooperation, including project financing, technology development, policy alignment, and supply chain resilience. Both countries will explore co-investment options in commercially viable projects and encourage joint research in processing, refining, and recycling technologies.

Ministers Hodgson and King emphasized the importance of sharing best practices on environmental, social, and governance (ESG) standards, traceability, and permitting processes. They also stressed the need to ensure emerging standards-based markets consider the unique challenges producer nations face.

The implementation of the agreement will begin with an in-person ministerial meeting within six months. Special envoys from both countries will conduct analysis to identify specific areas for cooperation. The ministers will hold annual meetings to monitor progress and establish concrete work plans.

While the JDI is not legally binding and creates no financial commitment, it represents a significant step towards deeper collaboration between two of the world's largest critical minerals producers. This partnership aims to secure and diversify global supply chains, potentially reshaping the critical minerals landscape in the coming years.