CSIRO Gets Australian Government Funding to "Supercharge" Critical Minerals Technology

Madeleine King, minister for resources and minister for Northern Australia, announced last Thursday (July 18) that AU$2.5 million will be allocated to a CSIRO research program via a new grant.

The initiative aims to "supercharge critical minerals technology and strengthen international collaboration on critical minerals science." Funding will come from the Australian Critical Minerals Research and Development (R&D) Hub, and will support an international R&D collaboration scan and strategic projects focused on critical minerals technologies.

Additionally, money will be put toward international science delegations, scholarship networks and a critical minerals research summer school for both domestic and international researchers.

“Critical minerals research and development is crucial to developing low-emissions technologies such as electric vehicles, storage batteries and solar panels that will help our international partners lower emissions and achieve their climate commitments,” King said. She mentioned that as the world becomes more dependent on renewable technologies, the grant will help strengthen Australia's international partnerships and build better supply chains for critical minerals.

“The valuable work by the R&D Hub will also support the government’s Future Made in Australia ambition, and ensure Australia works with international partners on environmental and social governance standards, commercialization of research, and intellectual property rights on critical minerals,” the minister added in the release.

She noted that the grant also supports Australia’s goal of reaching net-zero emissions by 2050.

The Australian Critical Minerals R&D Hub was established by King in partnership with Prime Minister Anthony Albanese in October 2022 to further develop Australia’s potential in the critical minerals sector. It is a government-funded partnership between CSIRO, Geoscience Australia and the Australian Nuclear Science and Technology Organisation.

A grant program geared at strengthening Australia's critical minerals partnerships was made public in February, with a total budget of AU$40 million. The minimum a project can receive is AU$2 million, while the maximum is AU$20 million.

Grant applications remain open as of writing.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.