The Australian Government Announces Grants for Six Critical Mineral Projects

Must Read

The funds are intended to aid early and mid-stage initiatives and create more than 500 new employment opportunities.

The Minister for Resources and Northern Australia, Madeleine King, has announced that $50 million in grant funding will be available to six key projects to unlock the potential of Australia’s critical minerals sector.

The funding, part of the government’s Critical Minerals Strategy, expedites early and mid-stage projects and supports over 500 new jobs. The projects will also stimulate growth across Northern Australia and drive regional economic development.

According to Minister King, “Australia has the potential to become a significant global supplier of critical minerals and rare piles of Earth, which will be required to assist Australia and the world transition away from polluting technologies and attain net zero emissions by 2050.”

“The grants will help us accelerate early and mid-stage initiatives that will result in new investment in our processing and manufacturing capabilities as we develop our critical minerals sector.

He added that Australia is home to many critical minerals that are key in developing batteries for electric vehicles and medical equipment production, defence, aerospace, automotive, and agritech industries.

Alpha HPA Ltd received $15.5 million to expand its chemical plant to produce new materials for the lithium-ion battery and synthetic sapphire markets.

Cobalt Blue Holdings also received $15 million to help pay for a Definitive Feasibility Study concerning its Broken Hill Cobalt project. This study will include final engineering designs, resource definition drilling, and producing intermediate and battery-ready cobalt products in Australia.

EQ Resources Ltd, Global Advanced Metals Pty Ltd, Lava Blue, and Mineral Commodities Ltd also received funding for projects that will help increase the production of various minerals.

The funds are intended to speed up early and mid-stage initiatives while spurring new investments in the country’s mineral sector. Minister King said the grants would create more than 500 new employment opportunities in rural and northern Australia.

- Advertisement -spot_img
Latest News
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img