CEFC backs critical transition
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Australia's mining sector is getting a green makeover with US$75 million in CEFC funding.
The Clean Energy Finance Corporation (CEFC) has put up funds for Resource Capital Funds (RCF), a leading alternative investment manager, to accelerate Australia’s role in the global clean energy transition.
The investment aims to strengthen critical mineral supply chains and drive decarbonisation in the mining sector.
RCF will use the funding to support Australian mining projects focused on key materials such as lithium, nickel, and copper - essential components for renewable energy technologies like batteries and electrification systems.
The CEFC's investment will primarily focus on decarbonising Australian mining operations.
A portion may be allocated to international projects aligned with global emissions reduction goals.
CEFC Director for WA and Resources, Jacqueline Lane, has described the partnership with RCF as pivotal, noting its potential to “enhance environmental standards and reinforce the competitive advantage of Australian minerals in the global market”.
RCF, which manages a US$2 billion mining portfolio, will direct the funding through its flagship private equity fund, aiming to bolster sustainable practices across the mining value chain.
Federal Ministers Chris Bowen and Madeleine King have noted the strategic significance of the investment.
“Our Future Made in Australia plan ensures we use our resources base to power the world while bringing jobs and wealth back home,” Bowen said.
King said there are some serious economic opportunities tied to the global renewable energy boom.
“Australian minerals should be at the forefront of this generational economic opportunity,” she said.
This initiative is part of a broader effort to develop Australia’s industrial base and enhance sovereign capability in critical mineral production.
