The Australian Government has announced a $75m (A$117.28m) investment aimed at enhancing the supply of critical minerals necessary for the renewable energy transformation.
This initiative is part of the broader Future Made in Australia strategy.
Go deeper with GlobalData
The Clean Energy Finance Corporation (CEFC), a specialist in Australia’s transition to net-zero emissions, will collaborate with Resource Capital Funds (RCF), a global alternative investment manager, to promote decarbonisation within the Australian critical minerals mining sector.
The focus will be on lithium and nickel, key components in battery technology, and copper, which is essential for electrification.
With more than $30bn available from the Australian Government, the CEFC is poised to work alongside co-investors, industry stakeholders and the government to stimulate economy-wide decarbonisation investments.
RCF, with a $2bn portfolio of mining assets, is well-positioned to partner in this initiative. The company is known for fostering innovative and sustainable businesses within the mining industry.
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 GlobalDataAustralia Minister for Climate Change and Energy Chris Bowen said: “We know Australia has the potential to be a renewable energy superpower, and with our enormous mineral wealth, we can help the world make the switch to net zero too.
“Our Future Made in Australia plan ensures we use our resources base to power the world while bringing jobs and wealth back home, especially in regional communities.”
The government has acknowledged that global efforts to reduce carbon emissions are reshaping traditional industries. This transformation is opening new avenues to expand Australia’s industrial base and reinforce the nation’s sovereign capabilities.
Australia Minister for Resources Madeleine King said: “The world is building solar, wind and other forms of renewable energy at a cracking pace, and Australian minerals should be at the forefront of this generational economic opportunity.”
In March this year, the Australian Government announced that it will invest up to A$840m in Arafura Rare Earths‘ first combined rare earths mine and refinery in the Northern Territory.
