Federal government launches digital tool to boost foreign investment in critical minerals
The Federal government has launched a new digital Australian Critical Minerals Prospectus aimed at attracting global investment in the industry.
The prospectus features an interactive online map highlighting more than 55 investment-ready projects across Australia’s critical minerals sector for potential investors from around the world.
Federal Minister for Resources Madeleine King said the online tool is customisable to help navigate Australia’s mineral endowment and a range of available government support, including potential funding for Australian critical minerals projects.
‘Important inputs’
“Critical minerals are vital for global efforts to reduce emissions and are becoming increasingly important inputs,” Ms King said.
“Australia’s resources industry has been developed with foreign investment and we need overseas investment to build our critical minerals industry.”
“This new online Australian Critical Minerals Prospectus will help drive investment into the sector.”
Mineral abundance
Trade and Tourism Minister Don Farrell said Australia had an abundance of the critical minerals needed to build essential components for products such as electric vehicles, solar panels, hydrogen technology and batteries.
“Australia is ready and willing to meet the growing global demand for critical minerals and we welcome international investment in key projects across the country,” he said.
“Australia has all the critical minerals the world needs and we need investment to get these projects up and running.”
Job creation
“Investment in Australia’s critical minerals and these technologies will help build a future made in Australia powered by renewable energy and create more jobs for Australians,” Mr Farrell added.
“Our government is also incentivising investment in critical minerals projects through a range of programs including the $4 billion Critical Minerals Facility and the recently-announced $7b Critical Minerals Production Tax Incentive.”