Mr. Chris Castle reports

AUSTRALIAN GOVERNMENT ADDS SELENIUM TO CRITICAL MINERALS LIST

Selenium has been added to the Australian government's critical minerals list.

Chatham Rock Phosphate Ltd.'s selenium project comprises two granted selenium-focused exploration areas, one near Hughenden (Gunnerside EPM 28676) and the other near Blackall-Tambo (Tambo EPM28606), both in Queensland.

The addition of selenium to the Australian critical minerals list provides significant further impetus to the company's activities.

Background

The Australian government has (Dec. 16, 2023) updated the list of critical minerals deemed essential to the nation's energy and security requirements and plans to scope the creation of strategic critical mineral hubs around the country.

The Australian government has also created a new list of strategic materials.

Both lists contain minerals that are important for Australia's modern technologies, economies and national security.

These include:

• Supporting the transition to net-zero emissions;
• Advanced manufacturing;
• Defence technologies and capabilities;
• Broader strategic applications.

Australian critical minerals list

The critical minerals list comprises minerals:

• Essential to modern technologies, economies or national security, specifically the priority technologies set out in the critical minerals strategy;
• For which Australia has geological potential of resources;
• That are in demand from strategic international partners;
• That are vulnerable to supply chain disruption.

The updated list consists of 30 minerals or groups of minerals. Critical minerals are crucial to the energy transition, and the newly listed commodities are all used in the defence and technology sectors.

The critical minerals list has expanded to include fluorine, molybdenum, arsenic, selenium and tellurium, and more closely aligns Australia's list with those of its international strategic partners.

The announcement by the Australian government's Minister for Resources and Northern Australia Madeleine King said the changes followed extensive consultation with industry, the public, and states and territories, and would support Australia's growth as a major exporter of clean energy materials.

"The updated critical minerals list and the new list of strategic materials will help government focus on those commodities needed to create jobs, keep us secure and power our economy," Ms. King said. "These minerals are critical to the greening of our economy and the defence of Australia and our allies."

Management comment

Chris Castle, president and chief executive officer, said: "This announcement of inclusion of selenium in Australia's list of critical minerals underlines the company's decision to take up its two Queensland exploration areas specifically targeting selenium to create its selenium project.

"The selenium project is managed through our subsidiary company Organoselenium Pty. Ltd., who have been advancing studies into the occurrence, distribution within the strata, methods of concentration and extraction of selenium.

"We will keep shareholders and stakeholders advised as we progress the selenium project."