The Australian Government has committed $50 million to the critical minerals industry, leveraging over $143 million in private sector co-investment.
Six successful projects were announced on 16 September 2022, which targeted projects of strategic significance to develop new supply chains.
The grant recipients are:
- Alpha HPA Ltd
- Cobalt Blue Holdings
- EQ Resources Ltd
- Global Advanced Metals Pty Ltd
- Lava Blue
- Mineral Commodities Ltd.
Grant recipients will provide at least half of the funds for project activities and receive government funding for the rest. Their activities include feasibility studies, engineering design work, and building pilot or demonstration facilities to prove the quality of products and help companies sign offtake agreements.
The projects will produce critical minerals such as:
- high-purity alumina (HPA)
Critical minerals embed Australia in strategic supply chains for crucial technologies like:
- lithium-ion and vanadium flow batteries
- defence industry technologies
- advanced medical equipment
- LED lighting
- optics technologies.