NSW Government offers multi-million dollar support for critical minerals projects
The NSW Government is offering grants of up to $10 million for key infrastructure needed to progress new mining and processing projects to accelerate the critical minerals sector.
Stream Two of the NSW Critical Minerals and High-Tech Metals Activation Fund provides between $2 million and $10 million for key enabling infrastructure, such as heavy haulage modifications, road upgrades, water or power upgrades, and processing facilities, to help explorers and mining companies set up and operate in NSW.
Deputy Premier and Minister responsible for resources Paul Toole said the unprecedented investment would help secure an ongoing pipeline of critical minerals and high-tech metals into the future, positioning the State as a major global supplier.
“Critical minerals represent the future of mining in NSW and we are committed to supporting investment right across the board – from helping explorers make new discoveries and increasing processing capacity right through to the commercialisation of emerging technologies and applications,” Mr Toole said.
“The NSW Government announced in June it had allocated $130 million to activate the critical minerals and high-tech metals sector, setting NSW apart from all other jurisdictions.
“Applications for Stream One of the fund opened earlier this month, offering grants of up to $500,000 for important studies and research and development needed to kick-start early-stage projects. The grants we’re launching today support advanced projects by unlocking blockages through investment in strategic infrastructure.
“Enabling industry investment in critical minerals exploration and mining ensures our State is prepared for the increased worldwide demand, strengthens the future prosperity of NSW and provides a vital economic boost for regional economies.”
Critical minerals and high-tech metals include rare earths, cobalt, copper, antimony, and scandium, which are crucial to a range of current and future technologies, including defence, the manufacture of electric vehicles, solar panels, wind turbines, and more.
The Critical Minerals and High-Tech Metals Activation Fund follows the NSW Government’s Critical Minerals and High-Tech Metals Strategy launched late last year.
For more information about the fund go to the Regional NSW website.