Three significant job-creating projects in Western Australia are set to benefit from a substantial funding boost as part of the state government’s clean energy initiative aimed at diversifying the state’s economy.
The government has earmarked $34 million through its Investment Attraction Fund (IAF) to support these clean energy projects, which are expected to generate new employment opportunities across the region.
The largest allocation of $15 million has been awarded to POSCO Co Ltd and Port Hedland Iron Pty Ltd for their Port Hedland Iron Project.
This project aims to decarbonise the steel manufacturing supply chain by producing low-carbon hot briquetted iron for export to Asian markets.
Another $15 million has been allocated to Pilbara Minerals Limited for a demonstration-scale plant that will feature an industrial-scale electric spodumene calciner, transforming critical mineral concentrates into high-value battery precursors.
In addition, International Graphite Ltd will receive $4 million to expedite the development of the Springdale Graphite Resource, enhancing its downstream processing facilities in Collie and advancing the technology necessary for producing critical battery materials.
This funding is part of a broader strategy under the IAF’s New Energies Industries Funding Stream, which also includes a previously announced $26 million investment in two carbon capture and storage projects.
WA Premier Roger Cook highlighted the significance of these initiatives, stating: “WA is on track to become a global clean energy powerhouse, to keep our economy for the long term and create the jobs of the future in our state.”
He highlighted that these projects are at the forefront of the global energy transition, aiming to reduce emissions from steel production and meet the growing demand for batteries essential for a sustainable energy future.
All funding allocations are contingent upon a Financial Assistance Agreement with the state.
