The Australian Renewable Energy Agency (ARENA) has funded Queensland startup Banksia Minerals to support its copper production pilot project.
Banksia Minerals is set to receive up AU$5 million in funding to support its copper production pilot project, which aims to strengthen Australia’s critical minerals capability and accelerate the nation’s clean energy transition.
Banksia’s breakthrough electrochemical technology enables the efficient processing of low-grade copper resources, while reducing energy use and emissions.
The funding will support the project’s progression from laboratory prototype to field demonstration.
Banksia Minerals Managing Director Leigh Staines said initiatives like ARENA’s Advancing Renewables Program (ARP) are key to supporting technology into a practicable application.
“Coming from industry, I appreciate it is challenging to invest time and resources into early-stage innovation when the focus is on day-to-day operations and delivery.
“Yet we know that step-change solutions will only be delivered through the development of breakthrough research that can address the supply chain challenges faced by the resources sector and its ultimate customer base – all of us.”
ARENA is supporting projects that accelerate the decarbonisation of critical energy minerals. By funding electrified, low-emissions alternatives to diesel and gas-based systems and scalable technologies across a range of critical energy minerals, ARENA aims to enable cleaner production and drive a low emissions minerals industry.
ARENA CEO Darren Miller said: “The rapid growth in global electrification and renewable energy deployment has seen copper demand grow to unprecedented levels whilst supply remains constrained. Innovative solutions like Banksia’s help meet that growing demand by unlocking low-grade resources, strengthening domestic supply chains and supporting a cleaner, more resilient energy future.”
“By backing early-stage and first-of-a-kind projects like this, ARENA is helping Australian companies de-risk new technologies, attract private investment and scale faster.”
