Applications open for NSW critical minerals funds

THE New South Wales government has opened applications for the first funding round of its $130 million Critical Minerals and High Tech Metals Activation Fund as it seeks to position the state as a world leader in minerals mining and processing.

NSW Minerals Council CEO Stephen Galilee said the fund - which was part of the recent NSW Budget - was a forward looking initiative that would be welcomed by mining communities across NSW.

"NSW is a significant producer and exporter of copper and gold and there are strong future prospects for a range of other minerals to be developed," he said.

"Our state boasts high quality deposits including silver, lead, zinc, and also cobalt, nickel, scandium, rare earths and mineral sands that are of increasing interest and demand globally."

Galilee said rapid technology development was driving growing demand for high-quality metals and rare earths.

Advances in many sectors including telecommunications, medicine, manufacturing, defence industries, energy, and renewables are driving demand for metals and critical minerals.

"This is driving strong interest in the future of the sector, with up to 15 or more potential metals mining projects proposed for NSW in the future and the potential for thousands of jobs and billions in investment, mostly in the Central and Far West regions of NSW," Galilee said.