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Policies

Critical Minerals Development Program

Last updated: 23 October 2024

The Critical Minerals Development Program is an Australian Government initiative running from 2022-23 to 2024-25, with a total funding pool of AUD 48.9 million. The programme aims to strengthen Australia's critical minerals sector, with grants ranging from AUD 1 million to 30 million, covering up to 50% of eligible project expenditure.

Key Objectives:

  • Supporting and de-risking critical development activities to help companies progress towards production
  • Supporting the global transition to net-zero emissions by 2050 through critical mineral resource development
  • Creating economic development and jobs in regional communities
  • Supporting workplace gender equality and opportunities for First Nations people

The programme supports various project types, including:

  • Business cases and feasibility studies
  • Pilot and demonstration projects
  • Engineering and technical work
  • Commercialisation of technology
  • Downstream manufacturing capability development

The programme emphasises projects that can demonstrate:

  • Strategic relevance to Australia's supply chains
  • Contribution to sovereign capability
  • Support for the net-zero transition
  • Job creation in regional areas

Among the announced grant recipients (Tranche 2), there was one notable recycling-focused project: Evolution Mining Limited received AUD 2,234,965 to support plans to retrieve cobalt from mine waste by treating tailings from Ernest Henry Operations.

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