The Minns Labor Government has made a significant announcement aimed at positioning New South Wales as a key global supplier of critical minerals, rare earth elements, and high-tech metals.
The NSW Government is funding 29 exploration projects with grants totalling around $5 million. The goal is to support drilling, geophysics, and geochemistry exploration to find the next major critical minerals project.
The announcement comes after Prime Minister Anthony Albanese unveiled a multi-billion-dollar Australia-US critical minerals pipeline at the White House alongside President Donald Trump, increasing the industry’s momentum.
“NSW has the critical minerals and high-tech metals that the world needs to drive a clean energy future, create new jobs, and build resilient supply chains,” NSW Minister for Natural Resources Courtney Houssos said.
As global demand for copper surges and prices have climbed by over 20 per cent this year, NSW has upped the ante. The state’s copper production has already increased by a third in the last three years, and is set to hit around 190,000 tonnes this financial year.
“Whether it’s the copper we need for data centres, antimony for batteries, or the rare earth elements for electric vehicles, NSW has the opportunity to be at the centre of the critical minerals boom,” Houssos said.
“This is the biggest round of exploration funding ever offered in NSW. From exploration to production, we are supporting targeted initiatives at each stage of the project pipeline.”
This funding round supports new exploration for critical minerals, including rare earth elements, zirconium, silver, and cobalt, which are essential for renewable energy, advanced manufacturing, and medical technology.
Among the successful applicants in the Critical Minerals and High-Tech Metals Exploration Program is Waratah Minerals, which will drill for copper at the Spur Porphyry Project in the Macquarie Arc.
Another recipient, Neo Double Eagle Resources, will explore for rare earth elements at Binge Grumble Mountain, targeting minerals crucial for smartphones, electric vehicles, and defence technologies.
