$50 million fillip for critical minerals projects

The Broken Hill Cobalt Project.

The Australian Government has approved a number of grants to accelerate the development of the critical mineral resource industry as part of the effort to reach net zero.

Resources and Northern Australia Minister Madeleine King said the Government will provide $50 million in grants for six key projects to unlock the potential of Australia’s critical minerals sector.

The projects will also strengthen development across Northern Australia, creating new jobs and driving regional economic growth.

“Australia has the potential to become a major global supplier of critical minerals and rare earth elements, which will be essential to help Australia and the world transition to low-carbon technologies and achieve net-zero emissions by 2050,” King said .

“The grants will accelerate early and mid-stage projects and drive new investment in our processing and manufacturing capabilities as we develop our critical minerals sector.

“Australia has vast reserves of critical minerals vital to batteries and electric vehicles, medical device manufacturing, defence, aerospace, automotive and agritech industries.

“Should these junior projects succeed in scaling to full production, they will help diversify global critical mineral supply chains.”

The successful scholarship recipients are:

  • Alpha HPA Ltd – $15.5 million for the HPA First product expansion project to add new capacity to the ultra high purity aluminum chemical plant being developed near Gladstone, Queensland. The project will produce materials for the lithium-ion battery and synthetic sapphire markets
  • Cobalt blue stocks -US$15 million to accelerate a definitive feasibility study for its Broken Hill Cobalt Project, including final engineering designs, drilling to further resource definition to produce cobalt intermediates and battery ready cobalt products in Australia
  • EQ Resources Ltd $6 million for tungsten production through the reclamation of mine tailings and reactivation of the open pit mine at Mount Carbine, Queensland for use in metal alloys for defense, transportation and other applications
  • Global advanced metals – $4 million for a tantalum and tin reclamation facility at Greenbushes in Western Australia, increasing the amount of tantalum produced in Australia
  • lava blue Up to $5.24 million for its project to develop modular reprocessing technology to recover high-purity alumina, magnesium and other critical minerals from vanadium mine tailings, which will increase product recovery and help diversify production into new materials
  • mineral raw materials – $3.94 million to develop an integrated Australian graphite ore-to-battery anode business producing battery grade graphite based in Munglinup, Western Australia.

King said the grants would support more than 500 new jobs in the region and in northern Australia.

About Ray Chan

Publisher of industry titles and imprint at Prime Creative Media. Publications include Rail Express and Australian Mining (web content). View all posts by Ray Chan

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