The federal government will support a further two major critical minerals projects in Queensland and South Australia to help deliver the building blocks for its Future Made in Australia policy.
The government will provide $400 million in new loans to Australian company Alpha HPA to deliver Australia’s first high-purity alumina processing facility in Queensland.
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The company will use Australian owned IP and technology to process high purity alumina—a critical mineral used in LED lighting, semiconductors, and lithium-ion batteries and other high-tech applications.
The government has also conditionally approved $185 million to Renascor Resources to fast track the development of Stage One of its Siviour Graphite Project in South Australia. The original loan was approved in February 2022, and this decision means that Stage One of the project will be brought forward sooner.
Renascor Resources will deliver the sustainable and ethically sourced production of Australian-made purified graphite, for use in lithium-ion batteries required for electric vehicles and renewable technologies.
The Critical Minerals Facility has now committed to support projects and jobs across the country, including in Western Australia, South Australia, the Northern Territory and Queensland.
Prime Minister Anthony Albanese said, “We are building a future made in Australia with secure jobs in our regions. Today we are demonstrating what that means here in Gladstone and in South Australia.
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“The global race for new jobs and new opportunities is on. Our Government wants Australia to be in it to win it.
“These two critical minerals projects will help secure good and secure jobs in manufacturing, and clean, reliable energy.”
