Export Finance and Insurance Corporation Amendment (Strategic Reserve) Bill 2026; Third Reading

Summary

Export Finance Australia (EFA), the government's export financing agency, gets new power to buy, store, and sell critical minerals, fuel, and other essential materials to protect Australia's supply chains during global crises or market disruptions. The changes amend the Export Finance and Insurance Corporation Act 1991 by expanding EFA's functions within its existing 'national interest account' framework, where the Trade and Tourism Minister can direct EFA to make these purchases and the government bears all costs and risks. This matters because recent global conflicts and supply chain breakdowns have threatened Australia's access to fuel and minerals vital for manufacturing and national security; the new powers let the government stockpile these materials quickly without waiting for normal commercial markets, while also freeing up to $1 billion from the Critical Minerals Facility and allocating $185 million specifically for mineral stockpiling and implementation.

What happens at this stage

The final vote in this chamber on the bill as a whole, after all amendments have been considered. If it passes, the bill moves to the other chamber to go through the same process. If both chambers have already agreed to identical text, the bill proceeds directly to Royal Assent.

Next: The other chamber, which runs the same process from First Reading, or Royal Assent if both chambers have already agreed