WA Battery and Critical Minerals Strategy to create future jobs
The Cook Government has released Western Australia’s refreshed Battery and Critical Minerals Strategy to help guide future investment as the state pushes to become a major global player in the downstream processing of critical minerals.
May 23, 2024 WA government
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Since the last refresh in 2020, Western Australia’s (WA) value-adding battery and critical minerals industries have grown substantially. There have also been changes in the international investment environment, including significant global policy shifts in the critical minerals and renewables industries.
The refreshed strategy outlines the state’s government’s vision to continue to grow WA’s internationally competitive, ethical and value-adding industry into 2030.
It aims to further develop the state’s industries to contribute to global decarbonisation efforts, diversify the state’s economy and deliver meaningful outcomes for regional and Aboriginal communities.
“Since 2015, there has been more than $9 billion of investment in WA’s critical minerals processing industries,” WA Premier Roger Cook said.
“Critical minerals are the centrepiece of WA’s economic diversification story and we are working to position our state as a major global leader in downstream processing.”
“This refreshed strategy was developed through consultation with key stakeholders and received more than 50 submissions following a public discussion paper released last year.”
“It sets out key actions to further grow investment in the sector by playing to Western Australia’s strengths, to maximise outcomes for Western Australians.”
“Right now, our priorities are a more efficient approvals system, planning and investment in common-user infrastructure and targeted support for strategically important projects.”
“We are also investing in the development of a future Critical Minerals Advanced Processing (CMAP) common-user facility for further mineral processing opportunities.”
The current near-term priority actions for the state government include:
- creating a more efficient approvals system;
- planning and investing in common-user infrastructure; and
- targeted support for strategically important projects.
Since the first Future Battery Industry Strategy was launched in 2019, production of critical minerals has grown, and sales for copper, cobalt, nickel and lithium have increased from $6.1 billion to $22 billion in 2023.
The refresh is supported by the Cook Government’s new $500 million Strategic Industries Fund, which will be used to prepare land for future industrial projects ensuring WA is primed for sustainable growth and development.
Funded as part of the 2024-25 State Budget, this investment will deliver common-user and other enabling infrastructure at SIAs across regional and metropolitan WA.
It comes as new data from the Department of Energy, Mines, Industry Regulation and Safety shows 2023 represented another stellar year for the State’s resources sector.
Employment in the sector was at record levels and sales on production were at a near-record of $248 billion for the calendar year.
The Cook Government also invested $36.4 million as part of this month’s State Budget to speed up approvals for job-creating projects by boosting resourcing of WA’s approvals framework. This will ensure proponents, stakeholders and Government agencies receive decisions in a timely manner.
Links
wa.gov.au
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