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| Green Metals |
Government Backs Green Metal Production with $1.7B Investment
The Australian government has announced a major investment to accelerate the production of green metals as part of the $1.7 billion Future Made in Australia Innovation Fund. This initiative, introduced in the 2024-25 Budget, aims to fund technological advancements, pilot projects, and sustainable innovations that will modernize the nation’s manufacturing infrastructure while reducing emissions.
A Push for Green Metals and Industrial Growth
A primary objective of the funding is to support the commercial-scale production of green metals, leveraging Australia’s raw materials and renewable energy sources. The initiative is expected to create new trade opportunities, generate jobs, and integrate sustainability into the industrial sector. The Australian Renewable Energy Agency (ARENA) will administer the funds independently.
This latest commitment builds on the Federal Government’s broader $5 billion investment in Australian manufacturing, reinforcing its focus on green technologies and industrial sustainability.
Key Initiatives Driving the Transition
Among the government’s key green manufacturing initiatives are:
- Green Aluminium Production Credits – Supporting lower-emissions aluminium production.
- Green Iron Investment Fund – Investing in iron and steelmaking innovation.
- Whyalla Steel Industry Support – Partnering with the South Australian government to secure the future of steelmaking in Whyalla.
- Clean Energy Technology Manufacturing – Accelerating battery technology, wind turbine, and hydrogen electrolyser development.
- Sustainable Fuel Investments – Supporting sustainable aviation fuel and renewable diesel to cut transport sector emissions.
- Hydrogen and Critical Minerals Tax Credits – Legislating production tax credits to encourage clean energy investments.
- Critical Minerals Facility – Funding major projects, including Iluka and Arafura, for rare earths and critical minerals.
- Geoscience Australia Investment – Fast-tracking new resource discoveries.
- Hydrogen Headstart Program – Providing incentives for hydrogen industry expansion.
- Powering the Regions Fund – Supporting green metals and low-emission manufacturing.
Government Commitment to Industrial Strength
Prime Minister Anthony Albanese emphasized the importance of strengthening Australia’s industrial base and manufacturing capabilities.
“We want to see more Australian workers making more things here,” Albanese stated. “That’s why we’re backing our local metals manufacturers to seize the opportunities of the future. We’ve got the resources, the workers, and the expertise — what we don’t have is time to waste.”
Federal Industry and Science Minister Ed Husic highlighted the dual benefits of job creation and emissions reduction.
“Jobs up and emissions down — that’s our goal,” Husic said. “Global demand for green metals is expected to account for a third of the metals market in the coming years. This is an opportunity we cannot afford to miss.”
Federal Climate Change and Energy Minister Chris Bowen reinforced the government’s long-term vision.
“The Federal Government is backing businesses across the country to seize the opportunities of a Future Made in Australia, powered by low-emissions technology and reliable renewables,” Bowen stated.
The Future Made in Australia Innovation Fund represents a strategic move to position the country as a leader in green metal production, reinforcing both economic resilience and environmental responsibility.
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