The federal budget included $566 million over a decade for Geoscience Australia to map the nation's critical minerals and water reserves.
They are resources that Australia is believed to have in abundance, which it needs for its national security, and could earn a fortune from digging up – if only it knew where it all was. Chief executive of Geoscience Australia since 2017, he was coy when asked how long he has been campaigning for the funding.The task for Geoscience Australia is to map out potential deposits of 31 critical minerals, such as cobalt and lithium, and five strategic materials, including copper and zinc."Because there's no enterprise that is carried out across Australia that doesn't rely on water in some form," Dr Johnson said.
"So we're narrowing down that search space, we release that information to all of the corporate sector at once so that no one gets a competitive advantage over another company, and then it's up to their levels of interest for that commodity as to whether they're going to take up exploration licenses in that area."
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Source: 7NewsSydney - 🏆 16. / 63 Read more »