Electric automotive batteries with a smaller environmental footprint are nonetheless potential however worldwide buyers are cautious after the federal authorities pulled the plug on a $120 million grant.
Brisbane-based Pure Battery Technologies’ deliberate refinery in Western Australia has misplaced taxpayer backing regardless of the Albanese authorities’s push for Australia to be a part of the worldwide battery provide chain.
Chairman Stephen Wilmot advised AAP the choice is to proceed with the feasibility research because the undertaking “makes sense”.
“However, there may be a need to review our decision after discussions with our offshore investors who have expressed surprise at the Australian government’s decision,” Mr Wilmot mentioned on Tuesday.
“Many are reluctant to invest in Australia if the Australian government is not demonstrating support for the onshore critical mineral processing industry,” he mentioned.
“This is something we might now need to consider in collaboration with our investors.”
The grant was awarded greater than a 12 months in the past to construct up onshore processing for battery supplies and was axed late final week after failed federal negotiations on adjustments to the undertaking.
Modern manufacturing grants accepted underneath the previous coalition authorities can nonetheless be scrapped if they do not meet necessities, Industry Minister Ed Husic mentioned.
Mr Husic mentioned he anticipated extra undertaking proponents to alter their thoughts on commitments made to safe grants.
“Sometimes those partners change, their commitment changes,” Mr Husic mentioned.
“And if it can’t stack up, we can’t commit more commonwealth funds.
“That’s the best way it is going to roll,” he advised reporters in Canberra.
Mr Wilmot mentioned it was disappointing to see a “stalling of the assist for the trade” from the government.
Pure Battery Technologies has an existing refinery in Hagen, Germany, using a leaching process that can refine nickel and cobalt products with a lower environmental footprint than other processing methods.
Spun out from University of Queensland research, the commercially proven method can refine raw materials and recycle from existing battery stocks.
When up and running, the WA hub could produce enough nickel, manganese and cobalt products to support the annual production of 500,000 lithium-ion batteries.
Production in WA was due to begin in early 2025 under previous plans.
Project companion Poseidon Nickel has mentioned it will to proceed to supply ore and focus samples for metallurgical take a look at work.
Source: www.perthnow.com.au
