Critical minerals funding helps to deliver the future made in Australia

The Albanian government will support two more major mineral projects in Queensland and South Australia, helping to provide the building blocks for a made-in-Australia future creating hundreds of jobs and opportunities.

The Government will provide $400 million in new loans to Australian company Alpha HPA to deliver Queensland's first high-purity aluminum processing facility.

The Alpha HPA project in Gladstone is expected to create around 490 jobs during construction and more than 200 jobs on completion.

Gladstone is a vibrant city of critical importance to the continued economic prosperity of Central Queensland and in welcoming Queensland's first high purity aluminum processing facility, it will be at the forefront of Australia's critical minerals industry .

The company will use Australian-owned IP and technology to process high-purity aluminium, a critical mineral used in LED lighting, semiconductors and lithium-ion batteries and other high-tech applications.

The loans will be provided by Export Finance Australia (EFA) through the government's $4 billion Critical Minerals Foundation, as well as through EFA's Northern Australia Infrastructure and Trade Account.

The government has also conditionally approved $185 million for Renascor Resources to fast-track the development of Stage One of its Siviour Graphite Project in South Australia. The initial loan was approved in February 2022 and this decision means that Phase One of the project will move forward sooner.

This project will bring significant economic benefits to South Australia. Phase One will provide around 150 construction jobs and 125 jobs once operational in Arno Bay on the Eyre Peninsula, with Phase Two expected to provide a further 225 construction jobs and more than 120 jobs once operational operational at Bolivar, near Port Adelaide.

Renascor Resources will provide the sustainable and ethically sourced production of purified graphite produced in Australia, for use in the lithium-ion batteries required for electric vehicles and renewable technologies.

The Critical Minerals facility is now committed to supporting projects and work across the country, including in Western Australia, South Australia, the Northern Territory and Queensland.

Quote attributed to the Prime Minister, Anthony Albanese:

“We are building an Australian-made future with secure jobs in our regions. Today we are demonstrating what that means here in Gladstone and in South Australia.

“The global race for new jobs and new opportunities is on. Our government wants Australia to be in it to win it.

“These two critical minerals projects will help provide good, secure manufacturing jobs and clean, reliable energy.”

Quote attributed to Queensland Premier Steven Miles:

“Today's announcement by the Premier shows the confidence that government and industry have in the great state of Queensland.

“My government has supported Alpha HPA from the start, providing State Development Land for this critical mineral facility, more than $21 million in funding to get Phase 2 of the Alpha HPA First project off the ground, and a $30 million investment to help Alpha in the manufacture of sapphire glass, right here in Gladstone.

“Queensland really is the place to invest and this project provides more clean economy jobs in Central Queensland, processing critical minerals needed for LEDs, semiconductors and batteries.”

Quote attributed to Trade and Tourism Minister Don Farrell:

“Australia has positioned itself as a renewable energy superpower.

“Our Government is committed to unlocking new critical minerals projects, supporting the net zero transition and ensuring a made-in-Australia future.

“These projects will create hundreds of high-paying local jobs and manufacturing opportunities, while also helping to diversify Australia's critical mineral exports with new supply opportunities to Japan, Korea and beyond.”

Quote attributed to Resources Minister Madeleine King:

“The Australian Government is committed to building our critical mineral resources and processing industries to diversify global supply chains and help the world reduce emissions.

“Australia's critical minerals and rare earths are key to building renewable technologies such as solar panels, batteries and wind farms, as well as defense and medical technologies.

“The investments announced today help create a new industry in Australia, supporting jobs and economic development, and building the foundation for an Australian-made future.

“The path to net zero goes through Australia's resources sector.

“Gladstone is a city of great importance to the economic power of north Queensland and the country and this project will place the city at the forefront of Australia's critical minerals industry.”

Quote attributed to Queensland Minister for Regional Development and Manufacturing, Glenn Butcher:

“The Albanese Government and Miles working together on this means supporting the next phase of Alpha HPA is further evidence of our commitment to a clean and green future for Queensland.

“This project brings together two of my greatest passions: Gladstone and manufacturing and I look forward to seeing this fantastic job-creating development move forward.

“We will be able to do more things here in Queensland and use Gladstone's world-class port to export our products to the world.”