The Australian Government is delivering millions in grant funding to critical minerals projects in Queensland and South Australia.
Queensland Pacific Metals (QPM) will receive $8 million to bolster domestic nickel and cobalt production, while South Australian-based Renascor Resources will receive $5 million for its pilot purified spherical graphite project.
The grants, provided through the International Partnerships in Critical Minerals program, will cover up to 50 per cent of project costs and help build diversified supply chains with support of partners in the US, Japan and Republic of Korea.
Federal Minister for Resources Madeleine King said the grants supported the Government’s Critical Minerals Strategy and a Future Made in Australia agenda.
“These grants will help to create high-paying jobs for Australian workers and mean more value is added to our critical minerals industry,” King said.
“We have a rich endowment of the critical minerals required for renewable energy technologies and our strategy will ensure Australia is well positioned to provide these resources as the world transitions to net-zero.
“The road to net-zero runs through Australia’s resources sector.”
The QPM project will produce battery-grade nickel and cobalt sulphate suitable for use in electric vehicles for sale to customers including General Motors in the US and LG Energy Solution and POSCO in South Korea.
“We are grateful to the Australian Federal Government for their support through the International Partnerships in Critical Minerals program,” QPM non-executive director Stephen Grocott said.
“This grant is a testament to the attractiveness of the TECH project for high quality, excellent environmental, social, and governance (ESG) battery materials production.”
The Renascor Resources Purified Spherical Graphite Pilot Processing Plant will produce purified spherical graphite for use in lithium-ion batteries. It will become Australia’s first vertically integrated graphite manufacturer.
“With this grant funding, we will now be able to build upon the significant work already completed on our downstream processing designs and further demonstrate that our eco-friendly, Hf-free purification technology can deliver a globally competitive PSG production operation,” Renascor managing director David Christensen said.
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