Australia spending A$243M to develop 4 critical minerals projects

Australia designated A$243 million for four metals and mining projects to increase national production of cobalt, nickel, aluminum, vanadium and rare earth minerals, the government said March 16.

The Australian government will provide A$119.6 million for an integrated nickel-manganese-cobalt battery material refinery hub in the Kalgoorlie, Western Australia, region. The refinery hub will be developed through a partnership between Pure Battery Technologies Pty. Ltd. and Poseidon Nickel Ltd., starting in 2023.

Australian Vanadium Ltd. will receive A$49 million to process vanadium from its Australian Vanadium Project near Meekatharra, Western Australia, into battery material, and Arafura Resources Ltd. secured A$30 million for its Nolans rare earths project in Australia's Northern Territory.

Another A$45 million will be put toward a high-purity alumina production facility near Gladstone City in Queensland that will be developed by Alpha HPA Ltd. and Orica Ltd. starting in 2022.

"Projects like these make for a stronger economy and a stronger future for Australia," Australian Prime Minister Scott Morrison said in a statement. "We're helping grow the local critical minerals processing and clean energy industries and locking in the future of those industries by backing manufacturing projects in Australia."

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