Grants and funding
Critical Minerals Queensland (CMQ) can facilitate introductions to both state and federal government departments that are currently offering funding opportunities. If you have a project that could benefit from investment, contact CMQ.
Queensland Government opportunities
The Queensland Government is currently providing more than $50 million in grants and funding opportunities to companies wanting to explore and extract critical minerals.
$32 million for critical mineral and battery technology supply chains
- Grants of up to $2 million and investments of up to $30 million
- Administered by the Department of Treasury and QIC
The critical minerals and battery technology fund supports businesses across all stages of the supply chain, from mining to the development of processing facilities and infrastructure.
Zero rent for exploration permits for minerals
- $0 rent for new and existing exploration permits for mineral for 5 years
To encourage exploration of critical minerals, there is zero rent required for exploration permits for minerals granted between 1 September 2023 and 31 August 2028.
$17.5 million to discover future mines
- Available until June 2027
- Administered by the Department of Resources
The Collaborative exploration initiative is one of the funding programs under the Queensland Resources Industry Development Plan and supports exploration companies to to discover future mines.
$5 million to extract critical minerals in mine waste
- Available until June 2027
- Administered by the Department of Resources
The Collaborative development program offers funding to help companies discover and extract critical minerals found in mine waste.
Australian Government opportunities
As we work towards meeting our commitment to the Paris Climate Agreement, Australia is focused on providing investment opportunities to support and expand our critical minerals industry.
$7 billion lending facility for infrastructure projects
- Administered by Northern Australia Infrastructure Facility
The Northern Australia Infrastructure Facility (NAIF) is a lending facility that provides loans to infrastructure projects in northern Australia. Investments from NAIR can be used to develop new infrastructure or to materially enhance existing infrastructure. NAIF can lend up to 100% of the debt, provided there is appropriate risk sharing.
Finance for exporting businesses and Indo-Pacific infrastructure development
- Government agency that works with banks, other agencies and partners
Export Finance Australia (EFA) provides direct loans, guarantees and bonds, insurance products, including credit insurance and political risk insurance and project and buyer finance for various projects, including those involved with the critical minerals supply chain.
Current government-funded initiatives
Here are some of the projects the Queensland and Australian governments are currently supporting.
Queensland
| Investment | Project |
|---|---|
| $5 billion | Own and deliver the 1,100km CopperString 2032 project |
| $300 million | Upgrade the rail connection from the North West Minerals Province to the Port of Townsville |
| $75 million | Build the first Queensland Resources Common User Facility |
| $75 million | Establish critical mineral zones to accelerate projects through a place-based approach |
| $55 million | Reduce rents to $0 for critical mineral explorers |
| $27.5 million | Funding explorers to unlock the next generation of critical mineral projects |
| $20 million | Delivering critical mineral geological and geophysics data and research, including investigating the role of circular economy in the resources sector |
Australia
| Investment | Project |
|---|---|
| $53.8 million | Funding for Queensland resource projects to onshore value chains under the Modern Manufacturing Initiative |
| $26.7 million | Funding for Queensland resource projects to accelerate early and mid-stage projects under the Critical Minerals Accelerator Initiative |
| $8.4 million | Funding for Queensland resource projects to advance projects towards financing and production under the Critical Minerals Development Program |
- Last updated
- 20 June 2024
- Last reviewed
- 20 June 2024