Critical Mineral Production Capacity Doubles Down With $2 Billion Boost

The expansion takes the government’s resource investments to $6 billion, bolsters Australia as a world-leading provider, and helps the transition to net zero.

Jodie Haydon, Prime Minister of Australia Anthony Albanese, U.S. President Joe Biden and First Lady Jill Biden pose for photos after the arrival of Mr. Albanese on the South Lawn of the White House in Washington, DC on Oct. 24, 2023. Anna Moneymaker/Getty Images

Prime Minister Anthony Albanese announced an extra $2 billion (US$1.26 billion) towards doubling the Critical Minerals Facility’s capacity to finance mining and processing projects on Oct. 25. 

The expansion takes the government’s resource investments to $6 billion, bolsters Australia as a world-leading provider, helps the transition to net zero and supports more jobs, opportunities, skills, technology and the economy.