The Australian federal government has announced that it will provide funding to boost green metals production and to maintain the competitiveness of domestic metals producers in the global market.
Accordingly, the funding in question worth A$750 million will support the development of new low emissions technologies and pilot and demonstration projects, and help to improve productivity. Since Australia is already advantageous in terms of its alumina, aluminum, and iron and steel reserves, the funding will further increase the value of Australia’s annual metals exports worth over A$150 billion.
In the meantime, the funding will provide the option to produce green metals on a commercial scale using domestic ores and renewables, paving the way for more trade opportunities, more jobs, more value-adding and lower emissions.
As SteelOrbis reported previously, in February this year, the government had unveiled two other funding packages to save its Whyalla steelworks and to increase domestic green iron production.