On Wednesday morning, the Australian government announced a number of mining investment plans, with outspoken ambitions for market share in rare earth magnets, lithium batteries and energy storage industries.
(Source: The Australian Government)
The Australian government, the world's largest lithium producer, second cobalt producer and fourth rare earth producer, has also proposed a "modern manufacturing initiative" worth A $1.3 billion. Four projects announced on March 16 are also funded under the initiative, with a total government grant of A $243 million.
1. Pure Battery Technology will receive a A $119 million grant, and the company will jointly build a nickel-manganese-cobalt battery material refining hub with Poseidon Nickel;
2. Vanadium received a $49 million mainly for mining high-grade vanadium ore, which is also an important raw material for energy storage batteries;
3. Arafura Resources's rare earth separation plant in central Australia will receive A $30 million, which is the first plant in Australia and the second plant of the kind in Australia except China (another in the United States);
4. Alpha HPA's high-pure alumina production equipment received A $45 million in funding to meet the expansion demand for lithium battery materials and LED lights.
Encouraged by the government in sending money, Arafura resources rose 15.38% on March 16, and Australian vanadium rose 40%.
The federal election, and in the polls with rivals equal Australian prime minister Morrison told the media on Wednesday, the recent voice of a series of events show Australia is facing nearly 80 years, what happened in Europe is to remind us of energy security, economic security and national security.
The Australian government also announced on Wednesday that its fiscal 2022 / 23 budget includes a series of policies to support key mineral sectors, including an A $200 million Accelerator Grant Program, A $50 million to support research and development, and renewed industrial policy.
Keith Pitt, Minister of Resources, Water and North Australia, said in a statement that the Accelerator project will provide grants to early and medium-term strategically important mineral projects to help them start early. The newly released key minerals strategy aims to develop our key mining sector, expand downstream processing and meet future global needs.