Insider Brief
- The Australian government has committed $750 million to drive innovation in the metals industry and support the development of low-emissions technologies, as part of its $1.7 billion Future Made in Australia Innovation Fund.
- The funding, managed by the Australian Renewable Energy Agency (ARENA), will focus on pilot and demonstration projects to advance green metal production, leveraging Australia’s natural resources and renewable energy capabilities.
- The initiative aligns with broader efforts to modernize Australia’s metals sector and accelerate the deployment of emerging technologies such as sustainable aviation fuel, hydrogen electrolyzers, and wind turbine manufacturing.
The Australian government is making a major push to boost its metals industry, announcing a $750 million investment to drive innovation and develop low-emissions technologies. The initiative, part of the broader $1.7 billion Future Made in Australia Innovation Fund, aims to keep Australia’s metal manufacturing sector competitive while reducing its environmental impact, according to an announcement by the Australian government.
“We want to see more Australian workers make more things here,” Prime Minister Anthony Albanese said in a statement “That’s why we are allocating funding to back our local metals manufacturers to seize the opportunities of the future.
The funding, which will be managed by the Australian Renewable Energy Agency (ARENA), is designed to support pilot and demonstration projects that could lead to the commercial-scale production of green metals. By leveraging Australia’s natural resources and renewable energy capabilities, the government aims to open up new trade opportunities, create jobs, and position the country as a leader in sustainable metal production.
“Australia is already a major player in global metals markets, with exports worth over $150 billion annually,” Prime Minister Anthony Albanese said in a statement. “We want to see more Australian workers making more things here. We’ve got the resources, the workers, and the know-how—the only thing we don’t have is time to waste.”
The move is part of a broader strategy by the Albanese government to support domestic manufacturing and transition heavy industries toward low-carbon production. This latest investment adds to over $5 billion in funding dedicated to modernizing Australia’s metals sector. Key initiatives include Green Aluminum Production Credits, a Green Iron Investment Fund, and a joint package with the South Australian government to support steelmaking in Whyalla.
“Demand for green metals is expected to account for a third of the global metals market in coming years, this is an opportunity we cannot afford to miss,” said Minister for Industry and Science Ed Husic.
The funding is intended to accelerate the deployment of emerging technologies such as sustainable aviation fuel, hydrogen electrolyzers, and wind turbine manufacturing. It will also support existing projects under the Critical Minerals Facility, which is investing in rare earths and essential minerals for clean energy technologies.
Australia’s efforts to decarbonize heavy industry come as global markets increasingly favor low-emission manufacturing. With major economies setting ambitious climate goals, industries such as aluminum and steel production face mounting pressure to adapt. By investing in research and development, the government’s goal is to ensure Australian metals remain competitive in this evolving landscape.
“Helping some of Australia’s largest industrial emitters, like alumina refining, capture the benefits of a global clean energy economy, cut fuel bills and remain competitive is at the center of a Future Made in Australia,” noted Minister for Climate Change and Energy Chris Bowen.
