Source: New Zealand Government
The Government has ring-fenced $80 million in the Regional Infrastructure Fund to develop and process domestic critical minerals resources, Foreign Minister Winston Peters and Regional Development and Resources Minister Shane Jones say.
“Critical minerals are used everywhere, from clean energy technologies and electronics to aviation, medical technology and more. They are essential to modern life,” Mr Peters says.
“A year ago the Coalition Government released its Minerals Strategy and Critical Minerals List. Since then, there has been increasing interest by a number of countries in securing supplies of critical minerals and rare earths.
“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.
“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.”
“New Zealand engages with a broad range of partners to gather information about the scope of market interest in this sector, and how that relates to the New Zealand Government’s objectives and priorities.
“We will continue to engage with the New Zealand public appropriately, as and when policy and project proposals around critical minerals are developed,” Mr Peters says.
Mr Jones says the $80m Regional Infrastructure Fund package will help New Zealand turn its resources into more jobs, investment and long‑term value for its communities.
“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.”
Relevant projects which meet the criteria and have already applied to the Regional Infrastructure Fund will be considered. Applications for new projects will also be accepted for consideration.
Successful projects will be announced when they have been evaluated and ministers have made decisions.
