The Albanese Labor Government has pledged A$750 million to accelerate innovation in the Australian metals industry, positioning the country as a leader in green metals technology. The investment is part of the broader A$1.7 billion Future Made in Australia Innovation Fund, unveiled in the 2024/25 federal budget, aimed at reducing emissions and increasing productivity in alumina, aluminium, iron, and steel production.
Australia, one of the world’s largest metals exporters, generating over A$150 billion annually, is set to strengthen its global standing through this initiative. The funding will support technology development, pilot projects, and equipment upgrades to modernise the sector.
The initiative will be administered by the Australian Renewable Energy Agency (ARENA) and will focus on developing commercial-scale production of green metals using Australian ores and renewable energy. It is expected to drive new trade opportunities, job creation in the manufacturing sector, and significant emissions reductions.
This latest funding builds on previous A$5 billion commitments by the Albanese government to support green aluminium production, clean energy technology, and low-carbon liquid fuels.
As part of the broader plan to modernise Australian industry and secure long-term economic resilience, the funding will also support:
- Green Iron Investment Fund – Backing steelmaking ventures in industrial regions such as Whyalla.
- Production Tax Credits – Supporting hydrogen and critical minerals development.
- Investment in Rare Earth Projects – Strengthening supply chains for essential minerals.
- Hydrogen Headstart Programme & Powering the Regions Fund – Stimulating clean energy production.
Prime Minister Anthony Albanese highlighted the government’s commitment to revitalising domestic manufacturing, “We want to see more Australian workers making more things here. That’s why we are investing in local metals manufacturers to seize future opportunities. We’ve got the resources, the workers, and the know-how – the only thing we don’t have is time to waste.”
Industry and Science Minister Ed Husic stressed the importance of innovation in securing Australia’s competitive advantage, “Jobs up and emissions down – that’s our goal. Investing in world-class Australian-made metals innovation will help us get there. The demand for green metals is expected to make up a third of the global metals market in the coming years, and we cannot afford to miss this opportunity.”
Climate Change and Energy Minister Chris Bowen positioned the investment as key to Australia’s transition to a low-emissions economy, “We are delivering solutions to decarbonise hard-to-abate sectors now, while Peter Dutton’s Coalition backs a A$600 billion nuclear scheme that would force industries to shut down. Supporting industries like alumina refining to stay competitive in the global clean energy economy is at the heart of a Future Made in Australia.”
With global demand for low-emission metals on the rise, the Albanese government’s investment aims to ensure Australia remains a major player in the green metals sector. The funding is expected to drive innovation, create jobs, and position the country at the forefront of the global energy transition.
