Government invests in green metals manufacturing

The Australian Government has announced $750 million to boost development of new technologies in metals manufacturing. Australian metals exports are currently worth over $150 billion annually.

Part of the $1.7 billion Future Made in Australia Innovation Fund, the new funding will “supercharge cutting-edge innovation and boost development of new low emissions technologies”.

The government says the Fund will support the development of cutting-edge new technologies, as well as funding pilot and demonstration projects that can lower emissions, improve productivity and revitalise plant and equipment.

It will also have the potential to unlock commercial-scale production of green metals using Australian ores and renewable resources, opening the door to more trade opportunities, more jobs, more value-adding and lower emissions.

Funding will be administered independently through the Australian Renewable Energy Agency (ARENA).

“We want to see more Australian workers make more things here,” said Prime Minister Anthony Albanese. “That’s why we are allocating funding to back our local metals manufacturers to seize the opportunities of the future.”

“The work of our scientists and researchers can sharpen our competitive edge, but getting that work into our mills and smelters quickly is a challenge, and that’s where this investment comes in,” said Minister for Industry and Science Ed Husic. “Demand for green metals is expected to account for a third of the global metals market in coming years; this is an opportunity we cannot afford to miss.”

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