Funding Opportunities

Whether you are involved in the critical minerals space as an explorer, producer or service provider, there are opportunities offered through both the federal and state government. AMEC has collated a list of funding opportunities and support for members.

These opportunities include a range of monetary support such as grants, subsidies, and more.

National Opportunities

Critical Minerals Development Program (CMDP)
Critical Minerals Development Program (CMDP)
Cooperative Research Centres (CRC) Grants
Cooperative Research Centres (CRC) Grants
National Reconstruction Fund (NRF)
National Reconstruction Fund (NRF)
Major Project Facilitation Agency (MPFA)
Major Project Facilitation Agency (MPFA)
Research and Development (R&D) Tax Incentive
Research and Development (R&D) Tax Incentive
Junior Minerals Exploration Incentive (JMEI)
Junior Minerals Exploration Incentive (JMEI)
Northern Australia Infrastructure Facility (NAIF)
Northern Australia Infrastructure Facility (NAIF)
Production Tax Incentive (PTI)
Production Tax Incentive (PTI)

State Based Opportunities - WA

Exploration Incentive Scheme (EIS)
Exploration Incentive Scheme (EIS)
New Energies Industries WA
New Energies Industries WA

State Based Opportunities - NSW

New Frontiers Exploration Programs
New Frontiers Exploration Programs
Mining Concierge and Investment Attraction Service
Mining Concierge and Investment Attraction Service

State Based Opportunities - QLD

Collaborative Exploration Incentives (CEI)
Collaborative Exploration Incentives (CEI)
Collaborative development program (CDP)
Collaborative development program (CDP)
Zero Rent
Zero Rent

If you are aware of other available grants not listed here, please let our team know so that we can add them.

Contact Linda Peng – linda.peng@amec.org.au

Critical Minerals Development Program (CMDP)

The Critical Minerals Development Program (CMDP) is a three-year initiative that began in 2022 with the objective of advancing Australia’s Critical Minerals Strategy and ensuring long-term sustainable growth in the sector. 

Recipient: Early to mid-stage critical mineral projects

Benefits: A combined total of $50 million over 3 years, provided as monetary or in-kind contributions. Recipients can receive a minimum of $1 million and a maximum of $30 million.

Status: Currently closed

Cooperative Research Centres (CRC) Grants

The Cooperative Research Centres (CRC) Grants supports industry, research the community through industry-led collaborative research from three years to ten years.

Recipient: medium to long-term research collaboration between at least one Australian industry organisation and one Australian research organisation.

Benefits: Grants of up to 50% for eligible project costs for an industry-led research collaboration

Status: Currently closed

National Reconstruction Fund (NRF)

The National Reconstruction Fund (NRF) provides finance in the form of debt, equity and guarantees to Australian projects that drive high-value industry transformation in the following priority areas:

  • value-add in resources
  • value-add in agriculture, forestry and fisheries
  • transport
  • medical science
  • renewables and low emission technologies
  • defence capability
  • enabling capabilities.

Recipient: The project must be predominately Australian-based and fall under one of the seven priority areas. It must demonstrate capability to generate 2-3% rate of return above the 5-year Australian Government Bond rate over the medium to long term as well as driving public policy outcome. It must not be categorised under prohibited investments, coal or natural gas extraction or native forest logging.

Benefits: The Fund will provide financial support in the forms of debt, equity and guarantees. It is important to note that it does not provide grants.

Status: The NRF currently welcomes proposals.

Major Projects Facilitation Agency (MPFA)

The MPFAC assists eligible developers of projects valued of $20 million.

Recipient: To be an eligible recipient, your project must have $50 million worth of capital investment that is facing regulatory challenges. It must demonstrate contributions towards:

  • Strategic priorities
  • Economic growth
  • Employment
  • Regional Australia

Benefits: providing information on Australian Government regulations and approvals, mapping critical approval pathways and processes, and communicating with regulators.

Status: Apply anytime, by contacting MPFA here.

Research and Development (R&D) Tax Incentive

The Tax Incentive aims to stimulate industry investment in research and development in Australia by means of offsetting costs and reducing financial risks involved in R&D.

Recipient: A company may be eligible for the Tax Incentive if it is incorporated under Australian or a foreign law with at list one eligible current, or planned R&D activities. An eligibility self-assessment is available online.

Benefits: level of benefits differ depending on a company’s turnover.

    • Less than $20 million turnover – may receive refundable R&D offset rate equal to their corporate tax rate plus an 8.5% premium.
    • Above $20 million turnover – non-refundable R&D tax offset rate equal to the corporate tax rate plus an incremental premium which is calculated based on the proportion R&D expenditure to total expenditure for the year. Specifically, if R&D intensity is above 2%, a company could receive offset equal to company tax rate plus 8.5% premium. If the amount is above 2% could receive a tax offset equal to the company tax rate plus 16.5% premium.
  • Clean energy Finance Corporation
    • Financing solutions are available for heavy industry and resources.
  • Export Finance Australia
    • Loans – loans are available for different purposes:
      • Pre and/or post-shipment working capital
      • International expansion
      • Capital expenditure

The available loan amount can also vary:

    • Bonds – support a bank-issued bond or provide a bond directly to your buyer. Bond options include:
      • advanced payment bonds
      • performance bonds
      • warranty bonds
      • US Surety bond
    • Guarantees – help securing guarantees with your bank and enable access to additional finance. This includes:
      • Access to finance from bank to deliver your export-related transactions
      • access finance for pre/and/or post shipment finance
      • select a line of credit option, allowing multiple drawdowns and repayments during the loan term
      • Fulfilling a contract with an overseas buyer
      • Supporting global business expansion
      • Secure a contract in an export supply chain

Status: Currently closed

Junior Minerals Exploration Incentive (JMEI)

The Junior Minerals Exploration Incentive (JMEI) aims to encourage investments in small exploration companies with greenfield exploration projects in Australia. It allows eligible explorers to generate tax credits by giving up a portion of the losses from greenfield exploration. These tax credits are then distributed to investors who purchase newly issued shares in the eligible entity during a specific period.

Recipient: Companies applying for the Junior Minerals Exploration Incentive (JMEI) must meet the requirements as a greenfield minerals explorer (please refer to the website for more information) and must incur greenfield minerals expenditure for the income year. Additionally, neither the company nor any connected entity must have previously engaged in mining or extraction of minerals for the purpose of generating assessable income during the current and preceding income year in which the greenfield minerals expenditure is incurred.

Benefits: Australian resident shareholders are entitled to either a refundable tax offset, or additional franking credits if they are a corporate tax entity. The explorer’s carry forward losses will be lowered to reflect the amount of exploration credits issued to its shareholders

Status: Application period for 2024-25 opens at 9:00 am AEST on 4 June and closes at 11:59pm AEST on 30 June 2024.

Northern Australia Infrastructure Facility (NAIF)

NAIF has a total of up to $7 billion available to support infrastructure developments with potential to generate public benefits for northern Australia across multiple sectors, including Resources, Energy, Transport and Logistics and more. Specifically, NAIF will dedicate $500 million of funding to develop critical minerals projects.

Recipient: NAIF can finance projects within the dedicated area

Status: Currently closed

Production Tax Incentive (PTI)

More to come…

Status: Unnanounced

Exploration Incentive Scheme (EIS)

The Scheme encourages exploration in Western Australia, for the long-term sustainability of the State’s resources sector and the demand for critical minerals on the transition to a net-zero energy system. There are multiple pathways to receiving grants for your projects, including:

  • Co-funded Drilling Program is a competitive program
    • Recipient: refer to website
    • Benefits: up to 50% refund for innovative exploration drilling projects.

Status: Closed (next application will open August 2024)

  • Co-funded Geophysics Program (CFP) provides information on greenfield regions and is managed by the Geological Survey of Western Australia.
    • Recipient: geophysical exploration in the mineral resources sector, however, higher preference will be given to those that are conducting studies targeting critical minerals, greenfield areas, regional to camp-sale projects.
    • Benefits: $2 million will be allocated by EIS each year. The co-funding amount will be 50% of the actual cost, capped at $250,000 per project.
    • The program brings together different institutions to deepen their understanding of geology, mineral deposits, and groundwater resources. There are three specific programs within it, namely Drilling technologies, Data from Drilling and the National Drilling Initiative (NDI).

Status: Unspecified

New Energies Industries WA

This program is applicable to projects in battery and critical mineral processing, renewable hydrogen, advanced manufacturing in wind and solar componentry, along with carbon capture use and storage projects.

Recipient: Australian businesses across priority industries.

Benefits: the amount varies across applicants.

Status: Currently paused

New Frontiers Exploration Programs

Exploration companies with appropriate title in NSW and previously arranged land access are encouraged to apply for the Program.

Recipient: applicant must demonstrate prospectivity, solid financial and technical competency for exploring group 1, 6 and 10 minerals under the Mining Act 1992 only.

Benefits: A total of $1.5 million in round 5 of the program which co-funds 50% of total drilling program cost or exploration geophysics costs. The amount varies with $100,000 maximum available for drilling programs and $50,000 for geophysical acquisition.

Status: Currently closed

Mining Concierge and Investment Attraction Service

This is a strategic initiative which aims to support mineral resource investment in NSW. It facilitates connections with NSW Government agencies, assists companies about project approvals, requirements, applications and more.

Recipient: Contact Mining, Exploration Geoscience (MEG) for investment opportunities

Benefits: Industry Advisory and Mining Concierge, Investment Attraction

Status: Contact  mining.concierge@regional.nsw.gov.au for more information.

Collaborative exploration initiative (CEI)

This Government Initiative encourages the discovery and development Queensland’s critical mineral as a part of the Queensland Resources industry Development Plan (DRIDP). It offers merit-based funding for industry to:

  • Encourage investment in under-explored parts of Queensland
  • Support innovative exploration techniques
  • Promote the discovery of minerals for the future

Recipient: requirements for round 9 will be announced in late 2024.

Benefits: A total of $17.5 million is available until June 2024

Status: Round 8 of application is now closed. Round 9 will open in late 2024.

Collaborative development program (CDP)

This program provides $5 million to recover mineralisation remnants in waste dump to support the development of the State’s critical minerals sector.

Recipient: companies who want to extract critical minerals and reprocessing opportunities.

Benefits: Recipient will receive a nominal sum of up to $100,000 of reimbursement.

Status: currently open until June 2027, or until the $5 million in funding has been exhausted.

Zero Rent

As a part of the Queensland Critical Minerals Strategy, the Government is reducing the cost of exploration permits to $0 for 5 years which is equivalent to $55 million. This would help lowering the barriers to explore and conducting projects.

Recipient: eligible applicant can be either new, or existing permit holders exploring minerals other than coal.

Benefits: Receive reimbursement or refund on rent.

Status: Effective through to 2028