The Western Australia (WA) Government is set to form a taskforce to cash in on the state’s potential for lithium and other energy materials.

As part of the government’s efforts to create a lithium and energy material industry, the taskforce will oversee the development of a lithium and energy materials strategy to build on the region’s competitive edge.

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The proposed industry will primarily focus on the processing of lithium and other energy materials.

“The availability of lithium and other energy materials in WA creates an once-in-a-lifetime opportunity for our state.”

In the wake of rising global demand for lithium batteries, the government intends to unlock the potential of the region’s large deposits of lithium and energy materials.

To be chaired by the WA Minister for Mines and Petroleum, the taskforce will consist of government representatives.

WA Premier Mark McGowan said: “The availability of lithium and other energy materials in WA creates an once-in-a-lifetime opportunity for our state.

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“My government is committed to the development of this industry to boost our economy and create long-term jobs for Western Australians.

“The taskforce will do the work, in consultation with industry, to ensure our state is front and centre in production of battery technologies, and will also work to make sure these materials can be processed here in WA to maximise local jobs.”

The taskforce will interact with mining firms and is scheduled to submit recommendations to the state government within six months.

In its budget, the WA Government allocated A$5.5m ($4.15m) in funding to the Minerals Research Institute of Western Australia (MRIWA), to support the development and manufacturing of technology metals and renewable energy sources.