That increase to NAIF funds is cool :) Makes me pleased TMT...

That increase to NAIF funds is cool
Makes me pleased TMT hasn’t seen any grants yet despite being in the NAIF list!
But currently the “creating more jobs” comment rings a bit hollow given the massive delays across the mining sector in implementing new projects due to the unavailability of labour.

… “The report found demand for battery minerals, such as lithium, is expected to increase by 40 times between 2020 and 2040, while demand for cobalt and graphite could increase by about 20 times.
Australia is the box seat because it currently has some of the biggest undeveloped sources of critical minerals including cobalt, lithium, manganese, rare earth elements, tungsten and vanadium.

But the federal government has warned some Australian processors and manufacturers may struggle to get access to mineral supplies in the future because most are exported overseas.
“The new critical minerals strategy outlines the enormous opportunity to develop the sector and new downstream industries which will support Australia’s economy and global efforts to lower emissions for decades to come,” Ms King said.
“While the potential is great, so too are the challenges. The strategy makes it clear our natural minerals endowment provides a foot in the door, but we must do more to create Australian jobs and capitalise on this unique opportunity.”
Ms King said they would ringfence $500 million from the next $2 billion tranche of funding going into the NAIF which was set up by the former Coalition government to fund projects in the northern states.

There is $1.1 billion left from the original $5 billion committed to NAIF, with a bill before parliament this week to tip another $2 billion to take the total available to $3.1 billion.

It is understood there will be no restrictions on the $500 million investment from NAIF as long as it is consistent with the federal government’s critical minerals strategy….”



cheers