Critical minerals funding helps deliver future made in Australia

The Albanese Government will support a further two major critical minerals projects in Queensland and South Australia, helping deliver the building blocks for a future made in Australia while creating hundreds of jobs and opportunities.

The Government will provide $400 million in new loans to Australian company Alpha HPA to deliver Australia's first high-purity alumina processing facility in Queensland.

The Alpha HPA project in Gladstone is expected to create around 490 jobs during construction and more than 200 jobs on completion.

Gladstone is a vibrant city of critical importance to the continuing economic prosperity of Central Queensland, and in hosting Queensland's first high-purity alumina processing facility, it will be at the forefront of Australia's critical minerals industry.

The company will use Australian owned IP and technology to process high purity alumina – a critical mineral used in LED lighting, semiconductors, and lithium-ion batteries and other high-tech applications.

The loans will be provided by Export Finance Australia (EFA) through the Government's $4 billion Critical Minerals Facility, as well as through the Northern Australia Infrastructure Facility and EFA's Commercial Account.

The Government has also conditionally approved $185 million to Renascor Resources to fast track the development of Stage One of its Siviour Graphite Project in South Australia. The original loan was approved in February 2022, and this decision means that Stage One of the project will be brought forward sooner.

This project will deliver significant economic benefits to South Australia. Stage One will deliver around 150 construction jobs and 125 jobs once operational in Arno Bay on the Eyre Peninsula, with Stage Two expected to deliver a further 225 construction jobs and more than 120 jobs once it is operational in Bolivar, near Port Adelaide.

Renascor Resources will deliver the sustainable and ethically sourced production of Australian-made purified graphite, for use in lithium-ion batteries required for electric vehicles and renewable technologies.

The Critical Minerals Facility has now committed to support projects and jobs across the country, including in Western Australia, South Australia, the Northern Territory and Queensland.

Quote attributable to Prime Minister, Anthony Albanese:

"We are building a future made in Australia with secure jobs in our regions. Today we are demonstrating what that means here in Gladstone and in South Australia.

"The global race for new jobs and new opportunities is on. Our Government wants Australia to be in it to win it.

"These two critical minerals projects will help secure good and secure jobs in manufacturing, and clean, reliable energy."

Quote attributable to Queensland Premier, Steven Miles:

"Today's announcement by the Prime Minister demonstrates the confidence government and industry have in the great state of Queensland.

"My Government has backed Alpha HPA from the very beginning, by providing State Development Land for this critical minerals facility, more than $21 million in funding to get stage 2 of the Alpha HPA First project off the ground and a $30 million investment to assist Alpha in making sapphire glass, right here in Gladstone.

"Queensland is truly the place to invest and this project delivers more clean economy jobs in Central Queensland processing the critical minerals needed for LEDs, semiconductors and batteries."

Quote attributable to Minister for Trade and Tourism, Don Farrell:

"Australia is positioned to be a renewable energy superpower.

"Our Government is committed to unlocking new critical minerals projects, to support the net zero transition and secure a future made in Australia.

"These projects will create hundreds of high-paying local jobs and manufacturing opportunities, while also helping to diversify Australia's critical minerals exports with new opportunities to supply into Japan, Korea and beyond."

Quote attributable to Minister for Resources, Madeleine King:

"The Australian Government is committed to building our critical minerals resources and processing industries to diversify global supply chains and help the world lower emissions.

"Australia's critical minerals and rare earths are key to building renewable technologies such solar panels, batteries and wind farms, as well as defence and medical technologies.

"The investments announced today help create a new industry in Australia, supporting local jobs and economic development, and building the bedrock of a future made in Australia.

"The road to net zero runs through Australia's resources sector.

"Gladstone is a city of great importance to the economic strength of northern Queensland and to the country and this project will put the city at the forefront of Australia's critical minerals industry."

Quote attributable to Queensland Minister for Regional Development and Manufacturing, Glenn Butcher:

"The Albanese and Miles Governments working together on this means support of Alpha HPA's next stage is more evidence of our commitment to a clean, green future for Queensland.

"This project brings together two of my greatest passions: Gladstone and manufacturing and I look forward to seeing this fantastic job-creating development move forward.

"We will be able to make more things here in Queensland and use the world-class Gladstone port to export our products to the world."