Australian Government invests $53m in critical minerals CRC

The Australian Government has announced it is investing $53 million under the Cooperative Research Centres (CRC) program to the Critical Metals for Critical Industries (CMCI) CRC to drive the development and commercialisation of new critical minerals refining technologies.

Australia is rich in the critical minerals and rare earths that are crucial for the global shift to a low carbon economy. Critical minerals like lithium, vanadium and cobalt are in increasing demand.

The CMCI CRC will target its research in high-value minerals, breakthrough technologies and sustainable refining methods — creating new job and export opportunities and lifting Australia’s processing for our world-class resources supply.

The CMCI CRC builds on significant investment to date in research and development in the critical minerals sector, like the Australian Critical Minerals Research and Development Hub bringing together expertise at CSIRO, ANSTO and Geoscience Australia.

The CMCI CRC will bring together 62 partners, including 43 Australian businesses, 11 research organisations and four peak bodies from the sector — together contributing a further $185 million to the CRC.

“Generations of Australians have enjoyed the good fortune of this continent’s rich resource endowment, but the next chapter of mineral refining requires new technologies, new industrial capabilities and new partnerships,” said Minister for Industry and Innovation and Minister for Science Tim Ayres. “The CMCI CRC builds on a proud tradition of Australian cooperative research and development to make sure Australia has the good jobs, resilient supply chains and high-quality manufacturing firms needed to tackle national challenges.”

“Australia is at the forefront of global efforts to diversify supply chains for critical minerals and rare earths, and the materials the world will increasingly need for clean energy, defence and medical technology,” said Minister for Resources and Northern Australia Madeleine King. “The CMCI CRC will make a valuable contribution to our efforts to build our sovereign capabilities, and to secure jobs and the economic opportunities that flow from our diverse geology.”

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