Bowen splashes another $230M for a pet climate change project
Monday, 18 March 2024
The Federal Government has committed a total of $230 million towards the Kathleen Valley Lithium Project in WA.
$110 million has been provided by the Clean Energy Finance Corporation (CEFC), while Export Finance Australia (EFA) has committed $120 million towards the project.
The funding will help battery minerals producer Liontown Resources secure the final stages of construction of the company’s Kathleen Valley Lithium Project.
Minister for Climate Change and Energy Chris Bowen said the investment would strengthen Australia’s position in the global supply chain.
“Nine out of the ten critical minerals necessary for lithium batteries can be found here in Australia, which gives us a massive jobs and economic opportunity in the net zero transformation,” Minister Bowen said.
“Few countries have as much to gain from the world’s shift to electric vehicles and the huge lift in battery storage as Australia. Making lithium a major export earner puts Australia in the value chain of the world’s automotive and renewable energy industries.
“Kathleen Valley’s low-carbon approach will be a premium product around the globe, as the world increasingly wants critical minerals with a low-carbon footprint.”
