The Australian government has announced $13 million in grants to support critical minerals projects in Queensland and South Australia, aiming to enhance downstream processing capabilities and strengthen Australia’s sovereign capacity in the sector.
Queensland Pacific Metals Limited will receive $8 million to boost domestic nickel and cobalt production, while South Australian-based Renascor Resources has been awarded $5 million for its pilot purified spherical graphite project.
These grants, provided through the International Partnerships in Critical Minerals program, will cover up to 50 per cent of project costs.
The initiative aims to build diversified supply chains with support from partners in the United States, Japan, and the Republic of Korea.
Federal Resources Minister Madeleine King emphasised that these grants align with the government’s Critical Minerals Strategy and its Future Made in Australia agenda.
“These grants will help to create high-paying jobs for Australian workers and mean more value is added to our critical minerals industry,” Minister King stated.
The Queensland Pacific Metals project is set to produce battery-grade nickel and cobalt sulphate suitable for use in electric vehicles.
The company has secured sales agreements with major international customers, including General Motors in the US LG Energy Solution and POSCO in South Korea.
Renascor Resources’ Purified Spherical Graphite Pilot Processing Plant will produce purified spherical graphite for lithium-ion batteries, positioning it to become Australia’s first vertically integrated graphite manufacturer.
The company has also received additional support through financing from the Critical Minerals Facility, administered by Export Finance Australia.
Minister King highlighted the significance of these projects in the context of global efforts to reduce carbon emissions.
“We have a rich endowment of the critical minerals required for renewable energy technologies, and our Strategy will ensure Australia is well positioned to provide these resources as the world transitions to net zero,” she said, adding, “The road to net zero runs through Australia’s resources sector.”
This investment in critical minerals processing aligns with the Australian government’s broader strategy to strengthen domestic manufacturing capabilities and position the country as a key player in the global transition to renewable energy technologies.
