The Australian government is backing two more key domestic critical minerals developments, unlocking local employment and reinforcing Australia’s positioning within global supply chains.
Marking the one-year milestone of the United States-Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths, Export Finance Australia (EFA) has approved up to AU$70 million in financing for Astron Corporation’s Donald mineral sands project in regional Victoria.
The initiative has also secured conditional approval for a AU$110 million investment from the National Reconstruction Fund (NRF).
Located in regional Victoria, the Donald mineral sands project is expected to create 200 construction jobs alongside 100 ongoing operational roles.
It will serve as a significant source of light and heavy rare earths essential for clean energy technology, defence systems, electronics, and permanent magnets.
The project will foster skilled career pathways through apprenticeships, technical roles, and partnerships with local education providers.
In a secondary funding decision, EFA conditionally approved a US$41.4 million (AU$58.85 million) loan to Global Advanced Metals to support its local production of tantalum, a crucial component used in aerospace alloys, electronic capacitors, and medical implants.
Since the signing of the US-Australia partnership, over AU$6 billion in government support has been committed to key critical minerals projects.
Minister for Trade and Tourism Don Farrell noted that the investments demonstrate how the government is actively building national export capacity while acting as a trusted global supply chain partner.
“By backing these projects, we are creating new Australian jobs, supporting regional communities and unlocking export opportunities that will deliver long-term economic benefits,” Farrell said.
Minister for Resources Madeleine King added that developing new sources of rare earths remains vital to diversifying international markets, while Minister for Industry and Innovation Tim Ayres emphasised that capturing greater value from domestic critical minerals resources directly supports long-term job growth under the government’s Future Made in Australia agenda.
