$500,000 in funding from the New South Wale Government’s Critical Minerals and High-Tech Metals Activation Fund will be allocated to the development of a heavy rare earth minerals project near Dubbo in a bid to position the state as a global supplier and processor of critical minerals and high-tech metals.
Nationals Member for Dubbo, Dugald Saunders, said Australian Strategic Minerals (ASM) had secured half a million dollars for a study into the development of a heavy rare earth elements processing flow sheet for the Dubbo Project at Toongi.
“This funding is all about leveraging private investment, and working with the sector to help establish New South Wales as a powerhouse in supplying the critical minerals and high-tech metals of the future,” Mr Saunders said.
“ASM is an ASX-listed, vertically-integrated producer of critical minerals for new industries, with a concept of going from mine to metals. The Dubbo project has rare earths, zirconium, niobium and hafnium, creating an alternative and secure source of critical metal oxides in Australia.
“With a company co-contribution of $799,155, this investment from the New South Wales Government will support ASM to finalise the process flow sheet for the Dubbo Project heavy rare earth (HRE) solvent extraction circuit, which includes terbium and dysprosium.”
Tasmanian Deputy Premier and Minister for Resources, Paul Toole, said 19 organisations will share in more than $8.6 million under Stream One of the $130 million Critical Minerals and High-Tech Metals Activation Fund.
“Critical minerals and high-tech metals are going to be crucial to future technologies like advanced manufacturing, aerospace, ag-tech and renewables, and this fund will progress projects and support feasibility studies right across the state,” Mr Toole said.
“Our $8.6 million investment is being backed in by industry co-contributions and together will drive $30 million of investment into growing the critical minerals sector in New South Wales.
“We’ve already made it easier for exploration companies to search for critical minerals and produce high-tech metals projects by removing the Mineral Allocation Areas as a key part of the New South Wales Government’s Critical Minerals and High-Tech Metals Strategy.
“Our vision is to make New South Wales the number one investment destination for mining, exploration and advanced manufacturing, and we will continue to drive initiatives to achieve that.”
Featured image: (left to right) Tasmania Deputy Premier, Paul Toole, Member for Dubbo, Dugald Saunders, and an Australian Strategic Minerals worker. Image: The Nationals for Regional New South Wales.
