The Australian government launched a new critical minerals prospectus on Wednesday (September 4), saying the interactive online tool showcases the country’s 55 investment-ready projects.
Each asset has an investment summary and project description, as well as information on potential production rates and capital expenditures. The aim is to organise data for potential investors and buyers.
Madeleine King, minister for resources, and Don Farrell, minister for trade and tourism, shared a joint media release, both commenting on the importance of critical minerals to Australia’s development.
According to Farrell, the projects listed in the prospectus will help attract the investment that Australia needs to build new industries, create more jobs and become a renewable energy superpower. “Australia has all the critical minerals the world needs and we need investment to get these projects up and running,” he commented.
Included in the prospectus are projects such as International Graphite’s (ASX:IG6) Collie downstream processing operation, Latrobe Magnesium’s (ASX:LMG) magnesium demonstration plant and Northern Minerals’ (ASX:NTU) Browns Range heavy rare earths project. Australian Vanadium (ASX:AVL,OTC Pink:ATVVF), which is advancing its Australian Vanadium project and recently secured AU$2.63 million from the Australian government, is also listed.
Users can filter their searches by company, project status, commodity or state. The prospectus also provides access to each project’s available government support and potential funding opportunities.
“Australia’s resources industry has been developed with foreign investment, and we need overseas investment to build our critical minerals industry,” King said, adding that the prospectus will help drive investment in the sector.
The release also highlights other government critical minerals incentives, such as the AU$4 billion Critical Minerals Facility and the recently announced AU$7 billion Critical Minerals Production Tax Incentive.
A total of 31critical minerals are currently recognised by Australia. The country last updated the list in February, when nickel was included after a turndown in the sector prompted companies to take operations offline.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Credit: Source link
