QRC welcomes federal critical minerals strategy

This week the federal government announced a new Critical Minerals Strategy, backed by a $200 million grants program, to accelerate prospective projects plus $50 million to support research and development.

The government also announced $243 million for investments in critical minerals manufacturing initiatives, including $45 million for a high purity alumina production facility near Gladstone to meet demand for lithium-ion batteries and LED lights.

The rapid deployment of clean energy technologies is leading to a significant demand for minerals such as copper, rare earth elements, cobalt and vanadium, and they are all found in abundance in our region.

QRC Chief Executive Ian Macfarlane said investments in critical minerals will become increasingly important as Queensland looks to play to its advantages in resources to create new jobs and support Australia's national security.

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"Investment in a range of commodities, including critical minerals, will strengthen Australia's energy security and self-sufficiency in areas as diverse as defence and the advanced manufacturing of renewables," Mr Macfarlane said.

"Queensland is fortunate to have diverse potential in critical and new economy minerals including vanadium, nickel, cobalt and scandium projects, which has been recognised by the State Government and is a key measure in the draft Queensland Resources Industry Development Plan."

Mr Macfarlane welcomed the state government's investment in common user infrastructure to support the vanadium industry in North Queensland and said more infrastructure like this is needed to drive further industry growth.

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