'Molybdenum is identified as a critical mineral on the...

'Molybdenum is identified as a critical mineral on the Australian Government’s Critical Minerals List 2023 update.'

Last week in the Australian Federal Budget for 2024-25, the Federal Government’s “Critical Minerals Production Tax Incentive” was announced, as part of the broader “Future Made in Australia” agenda.

The incentive, which is slated to have an effective date of 1 July 2027, will come in the form of a production tax credit valued at 10 percent of relevant processing and refining costs for critical minerals for up to 10 years per project between 2027-28 and 2039-40.

Copper, the Kalkaroo project’s primary product, is one of six “Strategic Materials” also identified by the Federal Government.

The government has earmarked over $7 billion over the decade for this incentive. A further $10.2 million has been assigned for pre-feasibility studies into common-user processing facilities to enhance Australia’s capacity to process critical minerals.

DYOR