As part of our plan for a stronger future, the Coalition Government is delivering on its commitment to support the growth of Australia\u2019s critical minerals sector, announcing a package of measures to help unlock the industry\u2019s significant potential.<\/p>\n\n\n\n
The measures, which are part of the 2022-23 Budget, include a $200 million Accelerator grants program, $50 million to support research and development and an updated industry strategy.<\/p>\n\n\n\n
Prime Minister Scott Morrison said Australia\u2019s resources companies were leading the world in developing new critical minerals markets.<\/p>\n\n\n\n
\u201cThe world is becoming a more uncertain place and we want to secure Australia as a reliable partner for local and global businesses that need the critical minerals we have right here,\u201d the Prime Minister said.<\/p>\n\n\n\n
\u201cWe\u2019ll dig them up right here. We\u2019ll refine them right here. We\u2019ll look to make the products that use them right here.<\/p>\n\n\n\n
\u201cThese suite of initiatives are about backing our home grown resources industry just like Liberals and Nationals always have.<\/p>\n\n\n\n
\u201cAs the global economy changes, there are exciting new growth opportunities emerging in areas such as rare earths and critical minerals that ultimately mean we can deliver a stronger economy for Australia and secure a stronger future.<\/p>\n\n\n\n
\u201cCritical minerals are used in more and more essential products. That means there are huge opportunities to backing the Australian critical minerals with programs like these, to be a partner whose products are high quality and consistent. A partner people can trust to deliver.\u201d<\/p>\n\n\n\n
Minister for Resources and Water Keith Pitt said the Accelerator initiative will provide grants to strategically significant critical minerals projects at the early to mid-stage to fast-track them to market.<\/p>\n\n\n\n
\u201cBy backing these important projects, we are also driving private sector investment to enhance Australia\u2019s strong international reputation as a reliable supplier of the resources the world needs,\u201d Minister Pitt said.<\/p>\n\n\n\n
Minister Pitt said the 2022 Critical Minerals Strategy, launched today, sets out to grow our critical minerals sector, expand downstream processing and help meet future global demand.<\/p>\n\n\n\n
\u201cThe Strategy will cement Australia\u2019s position as a leading producer of critical minerals, while contributing to our national security and economic prosperity,\u201d Minister Pitt said.<\/p>\n\n\n\n
\u201cDeveloping and diversifying our resources sector strengthens our national economy, delivering jobs and growth opportunities, especially in regional Australia.<\/p>\n\n\n\n
\u201cWhile the Greens openly talk about partnering with Labor to destroy Australia\u2019s resources sector, the Government strongly supports the industry and today\u2019s announcement builds on our strong record of delivery.<\/p>\n\n\n\n
\u201cA strong economy means a strong future for Australia, and resources are a significant contributor to that.<\/p>\n\n\n\n
\u201cOur resources and energy exports hit a record high value of $348.9 billion, and are projected to hit $379 billion in 2021-22.<\/p>\n\n\n\n
\u201cAustralia is blessed with extraordinary reserves of the critical minerals needed by sectors including defence, aerospace, automotive, energy, telecommunications and agritech.<\/p>\n\n\n\n
\u201cWe produce around half the world\u2019s lithium and we are the second-largest producer of cobalt and the fourth-largest producer of rare earths.<\/p>\n\n\n\n
\u201cWe have the potential to do so much more and we are taking action to grow Australia into a critical minerals powerhouse.\u201d<\/p>\n\n\n\n
Minister Pitt said Australia\u2019s large critical minerals reserves, our technical expertise and track record as a reliable and responsible supplier, enable the sector to respond to increasing global market demand.<\/p>\n\n\n\n
\u201cWe can also expand into downstream processing and embed Australia in global supply for technology ranging from mobile phones to fighter jets,\u201d Minister Pitt said.<\/p>\n\n\n\n
Minister Pitt said the Government has also committed $50 million over three years to establish the virtual National Critical Minerals Research and Development Centre, which will draw together expertise from CSIRO, Geoscience Australia, and the Australian Nuclear Science and Technology Organisation.<\/p>\n\n\n\n
\u201cThis Centre will build Australian capability in critical minerals processing, target technical bottlenecks in strategic supply chains, and drive breakthrough collaborative research,\u201d Minister Pitt said.<\/p>\n\n\n\n
\u201cThe Centre\u2019s projects will help unlock new sources of economically viable critical minerals, and diversify supply chains of strategic interest to Australia and our allies.\u201d<\/p>\n\n\n\n
The 2022 Critical Minerals Strategy is available on the Department of Industry, Science, Energy and Resources website.<\/p>\n","protected":false},"excerpt":{"rendered":"
As part of our plan for a stronger future, the Coalition Government is delivering on its commitment to support the growth of Australia\u2019s critical minerals sector, announcing a package of measures to help unlock the industry\u2019s significant potential. The measures, which are part of the 2022-23 Budget, include a $200 million Accelerator grants program, $50 … Continue reading “Investment To Unlock Potential Of Australia’s Critical Minerals Sector”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-15554","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15554","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=15554"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15554\/revisions"}],"predecessor-version":[{"id":15555,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15554\/revisions\/15555"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=15554"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=15554"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=15554"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}