An investor’s guide to state and territory critical minerals programs

Australia sits on some of the largest recoverable reserves of critical minerals anywhere in the world, including cobalt, lithium, manganese, rare earth elements, tungsten and vanadium. With as much as 80% of the continent still under-explored, there is considerable scope for major new discoveries.

For international investors looking to strengthen their place in the global critical minerals supply chain, Australia offers a nationally coordinated, regionally specialised ecosystem. This is underpinned by federal government support through Australia’s Critical Minerals Strategy and the Future Made in Australia agenda, both of which aim to build global resilient supply chains and support the path to net zero. 

In addition to federal support, Australia’s states and territories are actively helping critical minerals projects progress to production. They offer incentives, grants and programs for international investors to enter, grow and expand in the Australian market.

The Australian Trade and Investment Commission (Austrade) helps investors navigate critical minerals opportunities across the jurisdictions; identify the right location and partners aligned with their objectives; and connects proponents to the relevant state and territory body. 

State and territory critical minerals programs

Each state and territory has distinct strengths, policy settings, programs and incentives. 

New South Wales

New South Wales’ Critical Minerals and High-Tech Metals Strategy 2024-35 spans exploration, mining, processing, recycling and advanced manufacturing. The state holds 21 of Australia’s 31 declared critical minerals and has prioritised five: rare earths, scandium, copper, silver and cobalt. 

Investors can access a A$4 million Critical Minerals Processing and Advanced Materials Innovation Program, which funds the commercialisation of processing technologies and materials including alloys, permanent magnets and battery chemicals. In addition, the Critical Minerals Royalty Deferral Scheme offers up to A$250 million in royalty deferrals for qualifying mineral projects in their early production years to ease early cashflow for junior and mid-tier developers.

For more information, visit Invest in NSW. 

Northern Territory

With defined resources for 21 globally recognised critical minerals, and geological potential for a further 14 emerging commodities, the Northern Territory is an important critical minerals jurisdiction. The Northern Territory Government supports investment through the A$9.5 million per annum Resourcing the Territory program, which delivers pre-competitive geoscience and exploration grants, including support for critical mineral characterisation and test work. 

Major projects are advancing across the development pipeline. Arafura Rare Earths has started construction on its Nolans Project, Australia’s first fully integrated mine-to-oxide rare earths operation. Core Lithium has also restarted its Finniss Lithium Operation, returning the Northern Territory to lithium production. 

A strong pipeline offers further opportunities in graphite, tungsten, molybdenum, magnesium, copper, gold, bismuth and rare earths, alongside emerging potential for fluorite, beryllium, rubidium and antimony. With pilot gas production underway from the Beetaloo Sub-basin, the Northern Territory is positioning itself for growth in downstream processing and value-adding industries.

For more information, view the Critical Minerals and Gold in the Northern Territory 2026 guide.

Queensland  

Delivering Queensland’s Critical Minerals Future 2026–30 sets a clear plan to grow Queensland’s critical minerals sector. Queensland has the resources, capability and infrastructure needed to capitalise on rising global demand and support secure supply chains. The state is positioning itself for the next phase of critical minerals development by accelerating projects, expanding value chains, attracting targeted investment and enabling regional growth.

The Queensland Critical Minerals Prospectus is the Queensland Government’s flagship investment attraction document, showcasing the state’s critical minerals sector, competitive advantages, strategic projects, and opportunities across the mining, processing, and manufacturing value chain. Designed to help inform investors, off-takers and industry partners, it provides an overview of Queensland’s resource potential, established infrastructure, government support mechanisms, and emerging project pipeline, positioning Queensland as a leading destination for critical minerals investment and a trusted supplier to global supply chains.  

The Queensland Critical Minerals Fund (QCMF) is a Queensland Government-backed investment fund managed by QIC that provides flexible capital to help accelerate the development of critical minerals projects and supply chains across the state. The fund supports emerging and growth-stage companies involved in mining, processing, refining, advanced materials and related infrastructure by investing through equity, debt, royalty or hybrid structures. By helping companies fund activities such as project development, feasibility studies, processing capability and expansion, the fund aims to reduce financing barriers, attract further private investment, and strengthen Queensland’s position as a globally competitive and secure supplier of critical minerals. 

For more information, visit the Queensland Department of Natural Resources and Mines, Manufacturing and Regional and Rural Development. 

South Australia 

South Australia offers significant investment opportunities across the critical minerals value chain, from exploration and resource development to downstream processing, advanced manufacturing, technology development and industrial precincts, particularly across the Upper Spencer Gulf. 

The state has substantial resources of graphite, rare earth elements and mineral sands, alongside prospective deposits of cobalt, magnesium, manganese, lithium and other critical minerals. Its established mining industry, advanced geoscience capabilities, skilled workforce and growing renewable energy sector provide a strong foundation for investment.

South Australia’s geoscience-led approach supports investors through extensive pre-competitive geological data, while the A$12.4 million PACE Minerals program co-funds exploration activities to accelerate discoveries and reduce early-stage risk. 

The South Australian Government works collaboratively with industry and investors to facilitate project development, identify strategic partnerships and support investment across the minerals value chain.

Explore opportunities through Invest SA and Critical Minerals South Australia. 

Australia can supply the critical minerals needed to build batteries, semiconductors and the clean energy technologies of the future.

Tasmania 

Tasmania is well placed to support Australia’s critical minerals ambitions, with deposits of rare earth elements, nickel, tungsten, cobalt and antimony, and established tin and copper production. Investors can benefit from 100% renewable energy, deep mining expertise, modern transport infrastructure and extensive geological data.

Guided by its Critical Mineral Strategy, the state offers streamlined government access and tailored project support. Its Exploration Drilling Grant Initiative co-funds drilling for priority projects and has already supported discoveries and resource growth. A feasibility study into a Common User Processing Facility, using tin and tungsten as a working example, is due to report this year. If established, it would give multiple companies a shared industrial site to test and conduct mineral processing.

Current opportunities include the Deep Leads (Rare Earth Elements), Avebury Nickel, Cleveland Tin and Tungsten Mine, Heemskirk Tin, Firetower Tungsten-Cobalt and Montezuma Antimony Projects. These are supported by existing processing capability and industrial precincts across the value chain.

The Office of the Coordinator-General is Tasmania’s principal investment body, providing confidential case management to help proponents navigate approvals and make connections. Investors can also consult the Tasmanian Critical Minerals Prospectus.

Victoria 

For investors seeking secure and responsible critical minerals supply chains, Victoria combines globally significant mineral resources with established industrial capability, infrastructure and expertise. This creates opportunities across extraction, processing and higher-value critical minerals supply chains.

The state holds approximately 35% of world zircon and rutile reserves, largely in the Murray Basin mineral sands, which also hosts major deposits of heavy mineral sands deposits containing critical rare-earth elements. Central Victoria is home to Costerfield, one of Australia’s only operating sources of antinomy.

Victoria’s investment proposition extends beyond resources. The state offers Australia’s largest manufacturing workforce, advanced manufacturing capability, mining services expertise and transport infrastructure, providing a solid foundation for mining processing and downstream development. 

The Victorian Government supports critical minerals investment from resource opportunity through to industry development. Geological Survey of Victoria provides the geoscience and data underpinning Victoria’s mineral potential, while the Critical Minerals Coordination Office works to translate that potential into investment and industry opportunities. 

This includes investment attraction, targeted initiatives such as the Advancing Antimony Grants Program, coordinated project facilitation and work to strengthen social licence and regional benefits. 

For more information, view the Victorian Critical Minerals Roadmap. 

Western Australia 

Western Australia is a globally significant critical minerals jurisdiction, offering investors access to world-class resources, established supply chains and a stable, transparent investment environment. 

Western Australia is the global leader in hard-rock lithium mining, and a significant producer of rare earth elements and other minerals essential to batteries, renewable energy technologies, advanced manufacturing and defence applications. 

Through its Battery and Critical Minerals Strategy 2024–2030, the Western Australian Government is growing its midstream processing capabilities and capturing more value onshore through streamlined approvals, strategic infrastructure investment, innovation programs and support for downstream processing and manufacturing.

The Exploration Incentive Scheme (EIS) is designed to accelerate mineral and energy exploration in under-explored regions through refunds of up to 50% of direct drilling costs. The Co-funded Energy Analysis Program and Co-funded Geophysics Program for minerals are initiatives within the EIS which encourages exploration of mineral, petroleum and geothermal resources, with up to a 50% refund for exploration in analysis and reprocessing, and geophysics acquisition.

Investment opportunities span exploration, mining, processing and refining, particularly within strategic industrial precincts such as the Kwinana Industrial Area and critical minerals hubs across the Pilbara, Goldfields and Mid-West regions.

For more information, visit Invest and Trade WA. 

How Austrade can help

Through Austrade, the Australian Government has established commercial and strategic partnerships with likeminded governments and businesses. This includes through:

• Working actively with Australian projects proponents to identify targeted sources of commercial investment to develop their projects
• Leading business missions for Australian projects to target markets to connect them with international sources of offtake and equity
• Supporting bilateral strategic cooperation mechanisms to align policies, deepen technical collaboration and improve access to finance
• Publishing guides, such as the Australian Critical Minerals Prospectus, to inform and attract investment.

For information on investment opportunities in Australia, contact an Austrade investment specialist.