From tonight's budget.The critical minerals production tax...

From tonight's budget.

The critical minerals production tax incentive, could be worth serious dollars to us (assuming we qualify under the downstream refining and processing). Doesn't start until 2027, but that allows time to line ducks up and ramp up production. Can only be a good thing.

The Government will provide an estimated $19.7 billion over ten years from 2024–25 to accelerate investment in Future Made in Australia priority industries, including renewable hydrogen, green metals, low carbon liquid fuels, refining and processing of critical minerals and manufacturing of clean energy technologies including in solar and battery supply chains. Funding will catalyse clean energy supply chains and support Australia to become a renewable energy superpower. Funding includes:

An estimated $7.1 billion over 11 years from 2023–24 (and an average of $1.5 billion per year from 2034–35 to 2040–41) to support refining and processing of critical minerals, including: –

A Critical Minerals Production Tax Incentive from 2027–28 to 2040–41 to support downstream refining and processing of Australia’s 31 critical minerals to improve supply chain resilience, at an estimated cost to the budget of $7.0 billion over 11 years from 2023–24 (and an average of $1.5 billion per year from 2034–35 to 2040–41) –

$10.2 million in 2024–25 for pre-feasibility studies for critical mineral common-user processing facilities in partnership with state and territory governments to enhance Australia’s capacity to process critical minerals, sovereign capability and economic resilience.