Australia Plans $1.5 Billion Boost in Race for Critical Minerals
- Government establishes loan facility to support projects, jobs
- Australia is already dominating the mining of battery metals
Australia is the biggest exporter of lithium.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
Australia is gearing up to win a bigger market share for critical materials that can be used in everything from electric cars to aerospace.
The mining powerhouse will establish a A$2 billion ($1.5 billion) loan facility for critical minerals projects, Prime Minister Scott Morrison said in a statement. The fund would help fill finance gaps in developments, helping to drive the new-energy economy, he said.