WA gives critical minerals funding boost

22 November, 2023

The Western Australian Government is set to inject a substantial $134 million funding boost into initiatives aimed at curbing greenhouse gas emissions. This financial support will be strategically divided, with $74 million earmarked for projects targeting emission reduction and $60 million dedicated to the newly established Investment Attraction Fund, which aims to catalyse job creation within emerging energy sectors.

The Investment Attraction Fund will play a pivotal role in financing projects across various domains. This will include:

  • Battery and critical minerals processing
  • Renewable hydrogen
  • Advanced manufacturing in wind and solar and;
  • Carbon capture and storage initiatives.

WA Premier Roger Cook expressed optimism about the state’s potential to emerge as a global renewable energy powerhouse.

He stated, “WA has the potential to become a global renewable energy powerhouse – not only meeting our own net-zero targets but helping our neighbour’s transition away from coal to cleaner energy sources.”

Cook emphasised the government’s commitment to supporting local industries. This will be done via capitalising on opportunities within the energy transition, spanning from battery assembly and manufacturing to hydrogen production and critical minerals processing. This strategic approach is poised to result in more local job opportunities. Further to this it will aim to create a robust regional economy.

In tandem with these efforts, the WA Government is intensifying its support for the adoption of electric vehicles (EVs). They will allocate $2.2 million for the installation of 70 dual-bay EV chargers at METRONET stations. Additionally, the government has revised its EV target for the state fleet, aiming for 50 per cent EV adoption.

WA Energy Minister Bill Johnston underscored the collaborative nature of this cross-government initiative, stating, “This is truly a cross-government venture of several departments collaborating on the most efficient transition towards the state government’s commitment to net-zero by 2050.”

Johnston further highlighted the importance of diversifying the economy to pave the way for a cleaner, more affordable, and reliable energy future.