EIB Global and Australia strengthen cooperation on critical raw materials

• The EIB Global and the Government of Australia sign a declaration of intent to deepen cooperation on critical raw materials.
• This partnership builds on an existing Memorandum of Understanding between the European Union and Australia, with EIB Global now reinforcing this cooperation.
• This cooperation aims to ensure sustainable and resilient supply chains – a shared priority for both the European Union and Australia.

The European Investment Bank (EIB), the bank of the European Union through its development arm EIB Global, and the Government of Australia today signed a declaration of intent to strengthen cooperation on critical raw materials.

This declaration is the first step towards enabling the EIB to support the financing of critical minerals projects in Australia. The declaration furthers existing collaboration between Australia and the EU across the critical raw materials value chain – from exploration and extraction to processing, recycling and innovation. EIB Global is now taking steps to implement and reinforce this partnership through targeted investment and advisory support.

This partnership aims to strengthen resilient and sustainable supply chains between the European Union and Australia, ensuring more secure and reliable access to critical raw materials. By supporting sustainable development in critical raw materials, this will contribute to shared goals in clean energy, innovation, defence and economic security.

The declaration was signed by Australia’s Ambassador to the European Union Angus Campbell and EIB Vice-President Nicola Beer.

EU Vice-President Nicola Beer said: “Teaming up with Australia will provide the type of win-win partnership we are eager to build: a partnership with a like-minded actor – one that engages communities, values transparency and ensures community trust in critical raw materials initiatives. Australia’s strong track record in environmental responsibility and sustainable mining aligns with the EIB’s commitment to innovation and green investments. In this way, we strengthen Australia’s and Europe’s strategic autonomy.”

Australian Ambassador to the European Union Angus Campbell said: “Australia is a trusted supplier of critical minerals, and this partnership with the EU reinforces our shared commitment to sustainable development and secure supply chains.”  

Background information

About EIB Global:

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that pursue EU policy objectives. EIB Global is the EIB Group’s specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner of the Global Gateway. It aims to support €100 billion of investment by the end of 2027 – around one-third of the overall target of this EU initiative. Within Team Europe, EIB Global fosters strong, focused partnerships alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices across the world. Photos of EIB headquarters for media use are available here.

EIB Critical Raw Materials Strategic Initiative

The EIB Group is a key provider of finance and advisory in the critical raw materials sector. It supports the implementation of the EU’s Critical Raw Materials Act, which aims to ensure access to a secure and sustainable supply of critical raw materials.

In March 2025, the Bank approved a new Critical Raw Materials Strategic (CRM) Initiative, establishing a higher level of ambition for financing and investment across the CRM value chain. In addition to setting a target to double EIB Group financing, it established a one-stop shop and a dedicated taskforce to support project development.