The New South Wales (NSW) Government has announced applications are now being accepted for the first round of a new fund that aims to position regional NSW as a significant global supplier while reviving the critical minerals and high-tech metals market.
In a statement, Deputy Premier and Minister for Regional NSW Paul Toole said NSW is abundant in essential minerals and high-tech metals like rare earths, cobalt, copper, antimony, and scandium that are crucial to the development of a number of emerging technologies, such as the production of electric vehicles, solar panels, and wind turbines.
According to the Deputy Minister, the Critical Minerals and High-Tech Metals Activation Fund would aid in diversifying and advancing mining projects in regional NSW.
“The NSW Government is investing more than $130 million towards the growth and future of the mining sector and I’m pleased to announce applications are now open for the first stream of this Fund,” Deputy Minister Tool said,
He added that the fund would contribute to creating a diverse, thriving, and investment-ready industry, preparing NSW for the rapidly expanding global market and providing a critical economic boost to our regional economies.
“To give projects the best possible start, grants of up to $500,000 will support key studies, research and development, such as feasibility studies, mine re-use processing studies, metallurgical testing and infrastructure, water, and environmental studies,” he stated.
The grants will be awarded through a competitive process, and successful applicants must provide a funding co-contribution.
