Resources technology and critical minerals processing funding announced
METS Ignited has welcomed the announcement of eight companies in the resources technology and critical minerals processing sector that will benefit from a share of $50 million matched funding, under the federal government’s Modern Manufacturing Initiative (MMI).
Under the MMI Integration and Collaboration Streams, the funding will support the successful projects to capitalise on the growing demand for battery systems and the critical minerals associated with their production, and increase Australia’s international competitiveness as a leader in these areas.
The eight companies are a mix of regional and metropolitan based businesses scaling up local downstream processing of critical minerals, or adding value to battery and clean technology supply chains through onshore production of battery storage systems and adoption of low emission technology across the mining sector.
The companies are:
- Goldfields-based Lynas Rare Earths – developing a world-first process for refining rare ore
- Australian Vanadium Limited in WA – fast-tracking large-scale battery systems
- Elphinstone in Tasmania – developing underground battery powered mine support vehicles
- Darwin-based Core Lithium – building a pilot facility for battery production
- Albemarle Lithium in WA – transforming lithium residue for use in construction
- Brisbane-based METS Lab No.1 – building a pilot vanadium processing plant
- Batt Mobile Equipment in NSW – building underground hard rock mine electric vehicles
- Flip Screen Australia in Wagga Wagga NSW – building a new advanced manufacturing facility
This follows recent announcements for medical products and space under the MMI, with further projects for food and beverage, recycling and clean energy, as well as defence to be announced shortly.
Due to the quality, quantity and strength of applications in this initial round, the overall funding for this program has increased from $140 million to $200 million.
More information is available in the Resources Technology and Critical Minerals Processing Roadmap.
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