As part of the efforts to reach net zero emissions, the Australian Government has approved a series of grants to boost the growth of the vital minerals resources industry.
Minister for Resources and Northern Australia Madeleine King announced Government grants amounting to $50 million to six important projects to maximise the potential of Australia’s critical minerals industry.
Additionally, the projects will encourage regional economic development, create new jobs, and support development throughout Northern Australia.
“Australia has the potential to become a major global supplier of critical minerals and rare earths, which will be essential to help Australia and the world transition to low-emissions technology and achieve net zero emissions by 2050,” Minister King said.
Minister King stated that the grants would hasten early and mid-stage projects and encourage new investment in Australia’s processing and manufacturing capabilities as the nation expands its critical minerals sector.
“Australia has vast reserves of critical minerals which are crucial to batteries and electric vehicles, as well as the medical equipment production, defence, aerospace, automotive, and agritech industries. These junior projects, should they be successful in scaling up to full production, will help diversify global critical minerals supply chain,” the Minister added.
The grant recipients are:
- Alpha HPA Ltd – $15.5 million for its ‘HPA First’ Product Expansion Project, which will add new capabilities to the ultra-pure aluminium chemical plant under construction near Gladstone, Queensland. Materials created by the project will be used in lithium-ion battery and synthetic sapphire markets;
- Cobalt Blue Holdings – $15 million to expedite the Definitive Feasibility Study for the company’s Broken Hill Cobalt Project, which will produce intermediate and battery-ready cobalt products in Australia;
- EQ Resources Ltd – $6 million to recover mine waste and restart open-pit mining in Mount Carbine in Queensland to produce tungsten for use in metal alloys for defence, transport, and other purposes;
- Global Advanced Metals Pty Ltd – $4 million for a Tantalum and Tin Recovery Plant at Western Australia’s Greenbushes, which will increase the amount of tantalum produced in Australia;
- Lava Blue – up to $5.24 million for the development of modular re-processing technology to recover high-purity alumina, magnesium, and other critical minerals from vanadium mine waste, increasing product recovery and assisting in the diversification of production into new materials; and
- Minerals Commodities Ltd – $3.94 million for developing an Australian integrated graphite ore-to-battery anodes business in Western Australia’s Munglinup, producing batter-grade graphite.
Minister King said the grants would support over 500 jobs in regional and Northern Australia.
