The state government of Western Australia (WA) has launched a substantial A$150m ($97.5m) support package to bolster its lithium sector, which supplies around half of the global lithium market.
This move is in response to recent drops in lithium prices that have affected local jobs and operations.
Go deeper with GlobalData
The package includes fee waivers and a loan facility aimed at maintaining the state’s leading position in the battery metals industry. WA is considered a “global leader” in hard rock lithium production.
To counteract the challenges, the state government has introduced measures to support the sector over the next two years, anticipating a price recovery.
Government Trading Enterprises such as DevelopmentWA, Synergy and Water Corporation will waive fees related to downstream lithium processing.
This support, as part of the Lithium Industry Support Programme, is estimated to reach a value of A$90m over a two-year period.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn addition to processing support, the programme will provide relief to lithium miners by waiving port charges and mining tenement fees.
This initiative is valued at A$14.41m and aims to assist miners during the critical ramp-up phase of their projects.
A A$50m loan facility is also part of the package, offering interest-free loans to lithium miners. The eligibility for these loans is contingent upon the miners demonstrating their financial status and operational plans.
The loans are to be repaid quarterly over two years following the interest-free period, with the condition tied to lithium spodumene prices or a deadline of 30 June 2026.
The Lithium Industry Support Programme aligns with the government’s WA Battery and Critical Minerals Strategy.
It complements existing efforts to sustain critical minerals industry jobs, such as the Strategic Industries Fund, which invests in infrastructure in strategic industrial areas.
