Lithium Related Media Articles, page-22549

$230 mill for LTR in the budget…




Future Made in Australia
Aside from the revised stage 3 tax cuts, the revival of local manufacturing is the other centrepiece of the government's budget this year.
The Future Made in Australia Act (which is often referred to without the "act" on the end) is bringing together a range of new and existing manufacturing and renewable energy programs under one umbrella, totalling in excess of $15 billion.
In other words, the government is putting serious taxpayer money towards supporting local industry and innovation, especially in the renewable energy space.
A number of measures have already been announced (or re-announced), including:

• $1 billion for the Solar SunShot program to increase the number of Australian-made solar panels
• $2 billion for its Hydrogen Headstart scheme to accelerate the green hydrogen industry
• $470 million to build the world's first "fault-tolerant" quantum computer in Brisbane, matching the Queensland government's contribution
• $840 million for the Gina Rinehart-backed mining company Arafura to develop its combined rare earths mine and refinery in Central Australia
• $230 million for WA lithium hopeful Liontown Resources, which is also partly owned by Gina Rinehart
• $566 million over 10 years for Geoscience Australia to create detailed maps of critical minerals under Australia's soil and seabed
• $400 million to create Australia's first high-purity alumina processing facility in Gladstone
• $185 million to fast-track Renascor Resources' Siviour Graphite Project in South Australia
• A $1 billion export deal to supply Germany with 100 infantry fighting vehicles, manufactured at Rheinmetall's facility in Ipswich