A funding program designed to help Queensland companies extract value from mine waste is now open for applications.
The Collaborative Development Program provides $5 million in funding for companies working in Queensland that are seeking to assess and find ways to extract value from residual materials left behind after the primary phases of mining and minerals processing.
Some of Queensland’s mine tailings harbour mineral resources like cobalt, presenting an opportunity for businesses to explore for critical minerals in previously overlooked areas.
The Queensland Government said that finding critical minerals within mine waste serves as a crucial step towards securing the building blocks of a renewable energy future, ensuring sustainable resource efficiency and advancing the transition to cleaner energy technologies.
The program will run as a single round and remain open until the end of June 2027, or until funds are exhausted.
The Collaborative Development Program is part of the Queensland Critical Minerals Strategy, a $245 million investment to transform the state, national and global economy through the responsible use of critical minerals.
Queensland Minister for Resources and Critical Minerals, Scott Stewart, said, “Queensland has significant mine waste which can potentially hold substantial mineral resources.
“Our first step is assessing what’s out there and this funding allows businesses to explore areas that were once known for their mineral production to uncover potential critical minerals.”
Mr Stewart said that the Queensland Government sees opportunities for mine waste to become the key ingredients in future renewable energy technologies.
“As industries pivot towards a more sustainable future, the recovery of critical minerals from mine waste presents a dual opportunity—to reduce our carbon footprint while nurturing a circular economy model.
“This initiative encourages greater resource efficiency by facilitating the recycling of tailings and mine waste, ensuring that valuable minerals already extracted are not overlooked.
“Critical minerals are key to our renewable energy future.”
Image credit: Christian Vinces/Shutterstock.com.
