PERTH (miningweekly.com) – The New South Wales government has announced A$8.6-million in funding to progress critical minerals exploration in the state.

The funding, which forms part of the A$130-million Critical Minerals and High-Tech Metals Activation Fund, will be shared among 19 organisations.

“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,” Deputy Premier and Minister for Resources Paul Toole said.

“Our A$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.

“Now, we’re turbocharging the industry by driving investment to deliver feasibility studies, field trials, and environmental studies to get more projects off the ground. 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,” Tool said.

The funding has been welcomed by the Association of Mining and Exploration Companies, with CEO Warren Pearce saying critical minerals were essential to new and green technologies.

“We are pleased see the New South Wales government committing to investing in the future of the state, and the state’s mining industry, as demand for critical minerals will only gather pace as we transition to cleaner energy technologies,” he added.

“This programme is expected to leverage a further A$30-million in private investment, spurring greater critical minerals and high-tech metals exploration in New South Wales.

“Critical minerals and high-tech metals are in high demand as Australia and the world seeks to reduce emissions and decarbonise, and New South Wales is well positioned to take advantage of this once-in-a-generation opportunity.”