Funding to further Australia's role as global supplier of critical minerals
The Australian Government has allocated almost $22 million to support three crucial research projects through the Australian Critical Minerals Research and Development Hub to advance Australia's critical minerals industry
The Critical Minerals Research and Development Hub, a government initiative unveiled in the October 2022 Budget, aims to unlock Australia's critical minerals potential, positioning the country as a significant player in the global clean energy landscape.
Three newly funded projects involve key research institutions: the Australian Nuclear Science and Technology Organisation (ANSTO), CSIRO, and Geoscience Australia.
These strategic investments underscore the government's commitment to fostering the growth of the critical minerals industry and contributing to the production of materials essential for clean energy technologies, including applications in renewable energy, electric vehicles, and other key sectors.
ANSTO secured $13.9 million to accelerate the discovery, extraction, and processing of rare earth elements from lower-grade deposits. This initiative focuses on improving the efficiency of obtaining rare earth elements, essential components for various clean energy technologies.
CSIRO, with $5.2 million in funding, is tasked with developing intellectual property and knowledge to support downstream industries in producing high-purity metals and materials. The project aims to extend value chains for lithium, rare earths, and enhance value addition to tungsten ores and refractory metals, contributing to the production of materials crucial for clean technologies.
Geoscience Australia received $2.7 million for research exploring development opportunities within a domestic industry for critical minerals like gallium, germanium, and indium. The study specifically investigates opportunities related to by-products derived from processing primary commodities like bauxite and zinc, addressing the potential for establishing a domestic industry for critical minerals.