Critical Minerals Development Program in Australia

Deadline: 20-Feb-23

The Government of Australia is inviting applications for its Critical Minerals Development Program to help progress early to mid-stage critical minerals projects towards financing and production.

Projects will target critical minerals as listed in Australia's Critical Minerals Strategy.

Objectives

• The objectives set out in the Strategy are:
  • Securing investment and commercial offtake agreements for Australian projects to increase the diversity of supply and support secure, robust supply chains
  • Growing the capability to capture more of the value chain by expanding the knowledge of critical minerals and move in to downstream processing.
  • Supporting economic development and jobs in regional communities.
• The objectives of the program are to:
  • Support and lower the risk associated with critical development activities to help companies progress towards financing to proceed to production.
  • Support the global transition to net-zero emissions by 2050 through the development of Australia's critical mineral resources.
  • Support economic development and jobs in regional communities.
  • Support workplace gender equality, opportunities for First Nations people and economic development and jobs in regional communities.
• The intended outcomes of the program are to support:
  • Australia's Critical Minerals Strategy.
  • Long term sustainable growth in the Australian critical minerals sector.

Funding Information

• The grant amount will be up to 50 per cent of eligible project expenditure (grant percentage).
• The minimum grant amount is $1 million.
• The maximum grant amount is $30 million.
• You are responsible for the remaining eligible and ineligible project costs.
• Contributions to your project may be cash or in-kind contributions.
• Other funding can come from any source including State, Territory and local government grants.

Eligible activities

• To be eligible your activities must:
  • Relate directly to the project.
  • Be between the post-exploration and final investment decision stages.
  • Accelerate development and/or processing of your critical minerals resource.
  • Be appropriate to the stage of your project.
  • Have at least $2 million in eligible expenditure.
• Eligible activities may include:
  • Business cases, feasibility studies, technical assessments, flowsheet design, engineering, and technical work for early stage projects.
  • Pilot and/or demonstration projects and FEED studies for mid-stage projects.
  • Commercialization of technology and IP that benefits the sector.
  • Integrating critical mineral processing technologies that support net-zero emissions by 2050.
  • Development of downstream manufacturing capability.

Eligibility Criteria

• To be eligible you must:
  • Have an Australian Business Number (ABN).
  • Have an Australian Company Number (ACN).
  • Be non-income-tax-exempt.
  • Be registered for the Goods and Services Tax (GST).
• And be one of the following entities:
  • An entity incorporated in Australia and a trading corporation, where your trading activities.
    • Form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation; or
    • Are a substantial and not merely peripheral activity of the corporation.
  • An incorporated trustee on behalf of a trust where your trading activities.
    • Form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation; or
    • Are a substantial and not merely peripheral activity of the corporation.
• or
  • Have an Australian Business Number (ABN).
• and be
  • An Australian State/Territory Government agency or body.
• They can only accept applications:
  • For projects producing or planning to produce critical mineral(s) as listed in Australia’s Critical.
  • Minerals Strategy that are in the early to mid-stages of development; including those activities undertaken post-exploration and before final investment decision.
  • Where your project activities are substantially undertaken in Australia.
  • Where you provide evidence from your board (or chief executive officer or equivalent if there is no board) that the project is supported, and that you can complete the project and meet the costs of the project not covered by grant funding.
  • Where you provide evidence of your capability to provide your share of project costs (such as a funding plan that details where and how you will source funding, balance sheets, evidence of past successful capital raising, evidence of engaging credible commercial advisors).
  • Where you provide all mandatory attachments.

For more information, visit Government of Australia.