26 September 2023

New Minerals Office to mine new projects

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The Minister for Resources, Senator Matt Canavan has announced that a new Critical Minerals Facilitation Office is to be opened within the Department of Industry, aimed at securing critical mineral projects for Australia.

“The Australian Government will secure the future of rare earth and critical mineral projects, including those strategically important to defence end-use, with new financial options and a dedicated project facilitation office within the Department of Industry,” Senator Canavan said.

He said that to facilitate the sector’s growth the specialised new Critical Minerals Facilitation Office would open on 1 January next year to help secure investment, financing and market access for critical mineral projects.

“The office will also support international cooperation to help diversify critical minerals supply chains,” he said.

“Projects which boost our ability to extract and process critical minerals in Australia will be eligible for financial support through Export Finance Australia (EFA) including the Defence Export Facility.”

Minister for Trade, Tourism and Investment, Senator Simon Birmingham said the EFA would not place a great focus on critical mineral projects and related infrastructure.

“With critical minerals essential to much of the innovation and technological development in industries such as defence, space, energy and advanced manufacturing, there are real opportunities for Australia to play a bigger role,” Senator Birmingham said.

“This intensive focus across Government could provide many critical minerals projects with access to advice or opportunities that helps to kick-start their operations and create export outcomes.”

He said Austrade would work in conjunction with the new project facilitation office to seek and promote investment in the sector.

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