Australia’s Renewable Energy Revolution Begins With $566 Million Investment

The government will spend another $100 million to hire more staff to speed up approvals for renewable and critical mineral projects.

A reclaimer works in the Yandicoogina stockyard and loading a conveyor with high grade iron ore in Pilbara, Australia, on Sept. 4, 2009. Christian Sprogoe/AFP via Getty Images

The Australian Labor government will invest heavily in critical mineral mapping to turn the country into a renewable energy superpower and a hot spot for renewable investment.

On May 7, Prime Minister Anthony Albanese announced that the government would provide $566 million (US$366 million) in funding for a project that would deliver a map showing what was located under Australia’s soil and seabed for a 10-year period.