Applications are now open for the Palaszczuk Government’s newest fund accelerating the growth of the state’s emerging critical minerals, battery technology and advanced material opportunities.
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Treasurer and Minister for Trade and Investment Cameron Dick announced the opening of the fund at today’s Critical Minerals Investor Forum a companion event to this week’s 26th World Mining Congress with more than 3,000 delegates.
The Queensland Critical Minerals and Battery Technology Fund is aimed at enhancing the extraction and processing of critical minerals.
It will also accelerate the development of battery technologies and the production of precursor or advanced materials to support Queensland jobs and economic growth.
“Queensland has a clear vision to maximise the momentous opportunities that come with a clean energy future, as outlined in the Queensland Energy and Jobs Plan," Queensland Premier Annastacia Palaszczuk said.
"Our state’s abundant reserves of vanadium, cobalt, copper and rare earth elements are the key to accelerating the development of clean energy technologies like solar panels, battery storage and electric vehicles.
“More than just digging these out of the ground, Queensland is in the enviable position to grow our capabilities right through the supply chain from pit to product as global demand skyrockets.
“In the electric vehicle battery market alone, annual global investment is predicted to surge in excess of $550 billion by 2030 in order to meet emissions targets.
“This fund will ensure that it’s cobalt and nickel - extracted and processed in Queensland by Queenslanders – that is powering the clean energy future ahead.â€
Eligible companies must be able to demonstrate alignment with fund objectives and Queensland Government policy objectives.
Assistance will be provided to new projects with demonstrated benefits to Queensland.
This may include building industry capability, supporting private sector infrastructure development, the creation of Queensland jobs, and upskilling and training opportunities. ■