Why Biden’s IRA matters so much to Australia

News Snapshot:

It certainly means Australia’s critical minerals industry will be even keener to attract US investment underpinned by US subsidies to be competitive. Despite enthusiastic political rhetoric and signing of the US-Australia “climate, critical minerals and clean energy transformation compact” as the third pillar of the alliance, key aspects of how IRA subsidies can be used in other countries are still to be finalised. Of particular significance for Australian miners will be how strictly the US defines a “foreign entity of concern” when it comes to majority, minority or joint Chinese ownership of various Australian projects as well as the level...