The McGowan Government welcomed the Federal Government‘s pledge of $50 million to boost the development of critical minerals projects across Australia under the Critical Minerals Development Program.
According to the Western Australian (WA) Government, the program complements Australia’s new Critical Minerals Strategy, which aims to develop the industry nationwide, with seven of the 13 successful projects based in the State.
“We are at a critical moment in history, where Western Australia has the opportunity to capitalise on the opportunity to capitalise on the demand for our battery and critical minerals including lithium, nickel, cobalt and rare earth elements,” State Development, Jobs and Trade Minister Roger Cook said.
According to Minister Cook, investment in initiatives like these will also continue to benefit local communities and support regional WA’s economic growth for years to come.
“It will also create and support a number of jobs while continuing to diversify and strengthen Western Australia’s economy,” Minister Cook added.
The funding will enable critical minerals operators to diversify supply chains, increase local downstream processing capacity, and create job opportunities, all while assisting Australia and foreign export partners in meeting net zero emissions commitments by 2050.
Commonwealth funding for projects in WA includes a pilot project in Kwinana to establish the country’s first Precursor Cathode Active Material manufacturing plant, the commercialisation of CSIRO-patented technology for the clean extraction of magnesium metal, as well as a plant in Collie, and a project in Halls Creek to produce rare earth oxide concentrate.
Mines and Petroleum Minister Bill Johnston said WA is already firmly established as a global leader in the supply of critical minerals and rare earths, with some of the world’s biggest battery minerals processing facilities.
“This commitment by the Federal Government, alongside significant investment by the State Government enables the development of a world-class, value-adding critical minerals downstream processing industry that fuels both global and national decarbonisation efforts,” Minister Johnston stated.
The Minister added, “Providing the State with a competitive advantage will not only bolster current critical minerals projects but lead to the exploration of other opportunities in this field.”
