Mining companies will gain an extra $2 billion to expand the production of critical minerals needed for renewable energy and high-tech devices under a federal plan to meet soaring demand for the components tightly controlled by China.
Prime Minister Anthony Albanese will double the finance available to key exporters from $2 billion to $4 billion in the hope of unlocking vast reserves of lithium, nickel and other essential elements for batteries and other renewable technologies.
Albanese, who is visiting Washington, will announce the plan ahead of talks with US President Joe Biden and a state dinner at the White House that will include more than 100 political and business leaders as well as a performance by American 1980s new wave band the B52s.
Biden is also expected to host a private dinner with Albanese at the White House on Tuesday night (Washington time), when the two leaders will be joined by their partners, Jill Biden and Jodie Haydon.
For the rest of this article: https://www.smh.com.au/politics/federal/4b-for-mining-companies-to-produce-minerals-for-us-renewables-20231024-p5eeiy.html