** Australian critical miners rise after resources minister says the nation's strategic reserve will have element of floor-price

** Australia plans to be leading supplier of critical minerals like rare earths, which are key to industries from automotive to defence, partly by developing a strategic reserve with funding of A$1.2 bln ($839.3 mln)

** Lynas Rare Earths LYC.AX rises as much as 5.2% to A$20.570, highest since March 18

** Co is world's largest rare earth producer outside China

** Arafura Rare Earths ARU.AX gains as much as 5.5%; American Rare Earths ARR.AX up 6.6%

** Among lithium miners, IGO IGO.AX rises 5.6%, PLS PLS.AX jumps 7.3%

($1 = A$1.4298)

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))