Government Spends $1.3bn On Rare-Earth Tech Minerals For Mobile Devices
The Federal Government has finally twigged that Australia needs plenty of minerals – such as lithium and rare earths – if the nation is to boost the use of technology in manufacturing. With that in mind, it has set aside $1.3 billion to encourage investment in the processes needed to mine and process these elements.
The funding is available for resources technology and critical minerals processing manufacturing projects under the Modern Manufacturing Initiative.
Under a 10-year plan, the initiative aims to position Australia as a regional hub for resources technology and critical minerals processing.