Millions to supercharge critical minerals projects

Three Queensland critical minerals projects have attracted more than $26 million in funding under the Federal Government's Critical Minerals Accelerator Initiative. Lava Blue will receive up to $5.24 million for work to develop modular re-processing technology to recover high-purity alumina, magnesium and critical minerals from vanadium mine waste. Mount Carbine mine operator EQ Resources will receive $6 million for tungsten production through recovering mine waste and reactivating open-pit mining at the Far North Queensland site. Alpha HPA has attracted $15.5 million for its HPA First product expansion project to add new capabilities to the ultra-pure aluminium chemical plant planned for Gladstone. “The grants will support hundreds of new jobs in regional areas as the critical minerals sector continues to grow as an important new strand of our economy,” Resources Minister Keith Pitt said. “They will also build on the Coalition Government’s announcement of a $1.25 billion loan through the Critical Minerals Facility to Australian company Iluka Resources, to develop Australia’s first integrated rare earths refinery at Eneabba in Western Australia. “These announcements align with the objectives of the Government’s Critical Minerals Strategy. We are ensuring that Australia captures added value from our critical minerals and strengthens our position as a trusted supplier of critical minerals to our friends and allies around the world.” Cobalt Blue Holdings also won funding in this round, with $15 million earmarked to help it accelerate a definitive feasibility study for its Broken Hill cobalt project. All projects funded under the Critical Minerals Accelerator Initiative include significant private sector co-investment. EQ Resources said being awarded the grant was recognition of the company's strategic importance in building a resilient critical minerals industry in Australia, based on advanced processing technology and skilled-up labour. “We are delighted to receive this support from the Federal Government and believe it is a further endorsement of the project’s ability to become a strategically significant Australian producer of critical minerals within the near-term,” chief executive officer Kevin MacNeill said. “The project will also become a significant employer within the local economy with employee numbersexpected to exceed 100 with the commencement of open-cut mining activities.. "“We look forward to working with all parties as we continue to bring the historic Mount Carbine tungsten mine back into full production.”

Millions to supercharge critical minerals projects

Industry Queensland

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