Prime Minister Anthony Albanese is starting the day in Perth, where he's pledged 1.2 dollars to create a critical mineral strategic reserve.
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00:00Amid a backdrop of ongoing international trade uncertainty, Labor is today announcing it
00:08would set up, if re-elected, this critical mineral strategic reserve.
00:12The reserve would allow the government to purchase, store and then sell critical minerals.
00:18Australia is home to vast stores of critical minerals and the government says that it's
00:22increasingly important to enable both domestic demand to be met, but also the possibility
00:29to ensure these are sold onto trade partners internationally.
00:33The Prime Minister says this would allow the Australian government to deal with international
00:38trade disruptions from a position of strength.
00:42It could also see modest reserves of critical minerals stored on occasion.
00:47Labor announcing $1.2 billion as part of this announcement today.
00:52Labor would spend $1.2 billion on the reserve, which would be operational by the second half
00:58of next year.