The Morrison Government will now be accepting applications for the $1.3 billion Modern Manufacturing Initiative (MMI) from Australia’s critical mineral and resources sector starting today.
Alongside the launch in the priority area, the Government has also released the Resources Technology and Critical Minerals Processing road map detailing how businesses and manufacturers can capitalise on Australia’s abundant resources with new technology.
Highlighting the role manufacturing plays in creating jobs and opening economic opportunities, Prime Minister Scott Morrison opined that manufacturing is central to the Government’s National Economy Recovery Plan in response to COVID-19.
“Yesterday’s national accounts showed the comeback of the Australian economy is well underway and manufacturing businesses and jobs will be central to our National Economic Recovery Plan as we build back from the COVID-19 recession,” the Prime Minister said.
“Our $1.5 billion Modern Manufacturing Strategy is at the heart of our JobMaker plan and it’s focused on growing our entire manufacturing sector.
“Our Modern Manufacturing Initiative will help position Australia as not just a global leader in the resources sector but also in the manufacturing of the technology used, as well as turning the raw materials into value-added products.”
Prime Minister Morrison added the MMI investment and its roadmap will support new jobs in resource-rich regions, including the Hunter, Western Australia and Central Queensland.
Minister for Resources, Water and Northern Australia Keith Pitt said the resources funding round complements the Government’s Critical Minerals Strategy aimed at developing the emerging sector to meet global demand.
“Developing our critical minerals processing capability will ensure Australian companies can move down the value chain, getting greater value out of the products they produce,” said Minister Pitt.
The remaining road maps for remaining priority areas – Food and Beverage, Recycling and Clean Energy, and Defence – will be released in the upcoming weeks, coinciding with the respective MMI funding rounds.
Initial applications will be limited to the Translation and Integration streams of the MMI, with expressions of interest for the larger Collaboration stream to open in the coming months.
For more information on the road maps and available grant funding visit industry.gov.au/manufacturing.