The Australian Government has unveiled a $75 million (A$117.28 million) investment aimed at enhancing the supply of critical minerals crucial for the country’s renewable energy shift. This funding is part of the larger Future Made in Australia strategy, designed to position the nation as a leader in the global transition to net-zero emissions.
The initiative will see the Clean Energy Finance Corporation (CEFC), a key player in Australia’s net-zero strategy, collaborate with Resource Capital Funds (RCF), a global investment firm with a focus on sustainable mining. The primary focus of the investment will be on key minerals such as lithium, nickel, and copper — all essential for the production of batteries, electrification technologies, and renewable energy infrastructure.
The CEFC, with access to over $30 billion from the Australian Government, plans to partner with co-investors, industry stakeholders and government agencies to drive economy-wide decarbonization efforts. RCF, which manages a portfolio of mining assets worth $2 billion, brings expertise in developing innovative and sustainable businesses within the mining sector.
Australia’s Minister for Climate Change and Energy, Chris Bowen, emphasized the country’s potential to be a renewable energy powerhouse, stating, “With our enormous mineral wealth, we can help the world make the switch to net-zero emissions.”
The government’s Future Made in Australia plan is designed to leverage the nation’s vast natural resources to power the global transition to renewable energy, while creating jobs and wealth, particularly in regional areas. Minister Bowen noted that the country’s resources will be vital in driving the global energy shift.
Minister for Resources, Madeleine King, highlighted the rapid pace of global renewable energy development and Australia’s role in providing essential minerals, saying, “Australian minerals should be at the forefront of this generational economic opportunity.”
This initiative follows a previous government commitment in March 2024, where the Australian Government pledged to invest up to A$840 million in Arafura Rare Earths’ rare earths mine and refinery project in the Northern Territory, further strengthening Australia’s position in the global minerals market.
With these steps, Australia is actively positioning itself to meet the growing global demand for critical minerals while helping to drive a sustainable, net-zero future.
