The Australian Government has announced a $750 million investment to advance new technologies in the metals manufacturing sector, aimed at maintaining the industry’s global competitiveness.
The funding forms part of the broader $1.7 billion Future Made in Australia Innovation Fund, introduced in the 2024/25 Budget, the government said in a media release.
Australia’s metals industry, which exports alumina, aluminium, iron, and steel worth over $150 billion annually, is expected to benefit from innovations that reduce emissions, enhance productivity, and modernise facilities.
The investment will be administered through the Australian Renewable Energy Agency (ARENA) and will support pilot and demonstration projects to accelerate the development of green metals.
“We want to see more Australian workers make more things here,” Prime Minister Anthony Albanese said.
“That’s why we are allocating funding to back our local metals manufacturers to seize the opportunities of the future.”
The initiative is part of the government’s broader commitment to manufacturing, adding to more than $5 billion in funding for the sector.
Other key investments include the Green Aluminium Production Credits, the Green Iron Investment Fund, and a joint package with the South Australian Government to support steelmaking in Whyalla.
Additional measures focus on advancing clean energy technology manufacturing, low-carbon liquid fuels, and hydrogen production.
“Jobs up and emissions down, that’s our goal,” Minister for Industry and Science Ed Husic said.
“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.”
The government is also investing in critical minerals projects, including initiatives through the Critical Minerals Facility, Geoscience Australia, and the Hydrogen Headstart program.
These efforts align with the Powering the Regions Fund, which supports green metals development.
Minister for Climate Change and Energy Chris Bowen emphasised the importance of investing in clean energy technologies to maintain Australia’s industrial competitiveness.
“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 centre of a Future Made in Australia,” Bowen said.
