The Government has announced $80 million in ring-fenced funding to develop and process domestic critical minerals resources.
Relevant projects which meet the criteria and have already applied to the Regional Infrastructure Fund will be considered, said Regional Development and Resources, Minister Shane Jones. Applications for new projects will also be accepted for consideration.
“Our regions hold substantial deposits of critical minerals that could support a strong, sustainable economic recovery and position the country at the forefront of high‑value industries,” Mr Jones says.
“By supporting the development of critical minerals opportunities in New Zealand, we create jobs, build self-sufficiency, improve national resilience, and benefit from the new infrastructure, technology and skills that come with development.
“It’s important that we think beyond just extraction when it comes to critical minerals. Developing advanced processing techniques and technology that could help other countries to unlock their resources is an equally exciting prospect. That could open the door to new and deeper partnerships with countries looking to strengthen their own supply chain resilience.
“Given the scale of opportunity, and the importance of the sector to regional development, it makes sense to create this $80m package to help realise those benefits while supporting our Minerals Strategy, which lays a strategic and enduring path for the mineral sector.”
Foreign Minister, Winston Peters said the Government had seen increasing interest by a number of countries in securing supplies of critical minerals and rare earths since the release of its Minerals Strategy and Critical Minerals List a year ago.
“With global demand clearly rising, New Zealand is in a position to be a credible and reliable source of critical minerals and an essential link in the international supply chain,” Mr Peters says.
“Critical minerals are used everywhere, from clean energy technologies and electronics to aviation, medical technology and more. They are essential to modern life.
“By backing the extraction and processing of our own critical minerals resources, the New Zealand Government is sending a message to the world that we are serious about contributing to the critical minerals market,” he said.
Successful projects will be announced when they have been evaluated and ministers have made decisions, the Ministers confirmed.
