The Australian Government has allocated significant grant funding to propel critical minerals projects in Queensland and South Australia.
Queensland Pacific Metals (QPM) is set to receive $8 million to boost domestic production of nickel and cobalt. Meanwhile, Renascor Resources, based in South Australia, will receive $5 million for its pilot project focused on purified spherical graphite.
These grants, part of the International Partnerships in Critical Minerals program, will cover up to 50% of project costs. They will aim to establish robust supply chains with support from partners in the US, Japan, and the Republic of Korea.
Federal Minister for Resources, Madeleine King, highlighted that these investments align with the Government’s Critical Minerals Strategy and its commitment to fostering innovation under 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 focus on producing battery-grade nickel and cobalt sulphate, which is crucial for electric vehicles. Customers will include General Motors in the US, 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.”
Meanwhile, Renascor Resources aims to establish Australia’s first vertically integrated graphite manufacturing facility with its Purified Spherical Graphite Pilot Processing Plant. This facility will produce purified spherical graphite for use in lithium-ion batteries.
“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.