Mining Industry

Critical minerals projects to get a $50 million boost

Critical minerals projects to get a $50 million boost
Mining News Pro - The Federal Government has announced it will give out $50 million in grants to help boost the development of critical minerals projects.

The grants will go toward helping to diversify supply chains, build domestic downstream processing and support new jobs and regional development.

“The successful projects will create jobs and opportunities across regional Australia and help Australia realise its ambitions to be a clean-energy superpower,” Minister for Resources Madeleine King said.

Successful projects are located across Western Australia, Queensland and New South Wales.

The majority of projects are located in WA, with a total of $29.15 million allocated to companies such as Magnium Australia to commercialise its CSIRO-patented technology for clean extraction of magnesium metal and Northern Minerals to support its Browns Range heavy rare earths project.

In NSW, $6.5 million has been allocated to Australian Strategic Materials for its Dubbo project to support mining, separation and refining.

Over in Queensland, Evolution Mining has been allocated $2.2 million to support its Ernest Henry cobalt operation.

A total of 13 projects will receive funding across the three states.

“The 13 projects to receive funding under the Critical Minerals Development Program grants include plans to produce key inputs to lithium-ion batteries for electric vehicles, and to support supply chains for advanced manufacturing for aerospace, medical, energy and defence applications,” King said.

“The grants will support Australia’s new Critical Minerals Strategy, to be released shortly and which will outline how Australia can capture the significant opportunity of growing its critical minerals processing sector.

“Australia has remarkable potential to meet the increasing global demand for the critical minerals needed for clean energy technologies, such as electric vehicles and batteries, as the world moves to decarbonise.”

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