$20 MILLION INVESTMENT IN LITHIUM: WA
The Turnbull Government, through the Clean Energy Finance Corporation (CEFC), is investing around $20 million (US$15 million) into a project producing lithium concentrate – an essential component in electric vehicles and battery storage.
Located about 120km south of Port Hedland in Western Australia, the Pilgangoora open pit lithium mine will produce lithium concentrate that can support a full range of lithium products used in products such as lithium batteries.
The CEFC’s investment in the project, led by Pilbara Minerals Limited, will help to finance the development of the Pilgangoora project.
Lithium is a vital component used in battery storage, which helps to support Australia’s increasing use of renewable energy. Increasing the supply of lithium will help to drive the uptake of clean energy technologies, such as electric cars and battery storage.
This is the Turnbull Government’s first investment in a mining project of its kind in Western Australia and demonstrates our commitment to investing in clean energy technologies.
Construction of the mine is expected to commence in early 2018. The mine will provide benefit for the Pilbara region by providing opportunities for direct employment during the construction phase.
The Coalition Government’s investment in clean energy technologies will help to deliver reliable and affordable energy as we move to a lower emissions future.