Nickel to be placed on critical minerals list, giving WA miners access to $4 billion fund - ABC News
In short: Mining Giant BHP has announced it is considering mothballing its Nickel West division. In response, Federal Resources Minister Madeline King says she will put nickel on the critical minerals list.It will allow nickel miners to apply to access a $4 billion fund.The minister's announcement on Friday came after , which could risk thousands of workers' jobs.
Minister King confirms nickel to be added to Australia's critical minerals listMiners able to seek federal cash
Last year, the facility's fund swelled from $2 billion to $4 billion.
"This will now make sure nickel can fall within that particular facility," Ms King said.
"I haven't got a crystal ball any more than anyone else has," he told ABC radio.
Inclusion a 'real folly', analyst says
Resource analyst Peter Strachan said it was a "real folly" to treat nickel as a critical mineral.
"What's critical about nickel is that they're critically in danger of going broke," he said.
"How many times have you seen money lent to Australian businesses who then can't repay it?" he said.
Ms King said the industry was in a very different position now than it was several months ago.
"If you make everything a priority, nothing's a priority," she said.
Crisis talks held
Neither could put a timeline on the plan of action but promised to fast-track it.
WA billionaire Andrew Forrest's Wyloo Metals was one of the biggest players to take a hit.
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