Critical Minerals Development Program

Country / jurisdiction: Australia · Year: 2022 · Status: In force · Level: National · Type: Voluntary

The Critical Minerals Development Program (CMDP), previously known as the Critical Minerals Accelerator Initiative, provides funding to early and mid-stage projects that contribute to robust global supply chains, build sovereign capability in Australia and create high-paying regional jobs by bringing new critical minerals sources of supply online. The Critical Minerals Development Program is an Australian Government initiative running from 2022-23 to 2024-25, with a total funding pool of AUD 48.9 million. The programme aims to strengthen Australia's critical minerals sector, with grants ranging from AUD 1 million to 30 million, covering up to 50% of eligible project expenditure.

The CMDP targets critical minerals listed in Australia’s Critical Minerals Strategy. The CMDP will help projects overcome technical and market barriers by supporting a range of undertaken post-exploration and before final investment decision such as feasibility studies, engineering design work, pilot testing, and building demonstration plants to help proponents prove the quality of their product and secure contracts with customers.

The CMDP supports strategically significant projects at crucial points in development, setting Australia up as a critical minerals powerhouse. Grants will accelerate projects to market, attracting private sector finance and investment. Successful applicants can receive up to AUD 50 million but are required to contribute at least 50% of the cost themselves. In this program, an R&D hub was also created with AUD 50.5 million by funding three existing public institutions (CSIRO, ANSTO, and Geoscience Australia) to work together to support Australian intellectual property in critical minerals processing, progress international R&D collaboration, and connect projects to expertise.

Among the announced grant recipients (Tranche 2) , there was one notable recycling-focused project: Evolution Mining Limited received AUD 2,234,965 to support plans to retrieve cobalt from mine waste by treating tailings from Ernest Henry Operations.

Official source: https://business.gov.au/grants-and-programs/critical-minerals-development-program