The proposal would make an initial investment of around $1.2 billion in the Critical Minerals Strategic Reserve.

A Taskforce would be established to consult and finalise the scope and design of the Critical Minerals Strategic Reserve, which is expected to be operational in the second half of 2026. The final design could lead to changes in the announced financial impacts.

The Critical Minerals Strategic Reserve would invest in critical minerals through national offtake agreements and selective stockpiling.

The proposal would start on 1 July 2025.