The Australian Government has announced $53 million in funding to support the development of a domestic critical metals refining industry through the Cooperative Research Centres (CRC) Program.
According to the Department of Industry, Science and Resources, the funding has been awarded to the Critical Metals for Critical Industries (CMCI) CRC under Round 26 of the CRC Program.Â
The initiative aims to support research and collaboration to advance refining capabilities for critical metals in Australia.Â
Critical minerals, metals and rare earths are increasingly important for future technologies, but much of the refining of these materials currently takes place overseas despite Australia being a major producer of the raw resources, the Australian Government said.Â
The CMCI CRC will focus on developing refining processes for critical metals and is expected to involve 62 project partners from across industry and research organisations.Â
The program is also intended to support the development of local skills and contribute to establishing a globally competitive industry in Australia.Â
The Australian Government said the CRC will support the development and commercialisation of new refining technologies for critical minerals, which are used in a range of advanced and emerging technologies.Â
These include materials such as lithium, cobalt and vanadium that are in growing demand as industries transition to low-carbon and high-technology applications.Â
Partners participating in the CRC are expected to contribute additional funding and in-kind support to the initiative.Â
Since the program began in 1990, the Australian Government has supported 242 CRCs that have carried out research and development across a wide range of sectors, including manufacturing, agriculture, energy, health, cyber security and artificial intelligence.
The government said the new CRC is intended to help expand Australia’s capabilities in processing critical minerals domestically while supporting industry collaboration and research in the sector.
