- Lithium Industry Loan Facility applications now open
- Interest-free loans of up to $15 million to stabilise operations and protect jobs
- Part of Cook Labor Government's commitment to support the critical minerals industry
Applications are now open for the Cook Labor Government's Lithium Industry Loan Facility, providing funding to lithium miners to support operations and protect local jobs.
The $50 million program, announced earlier this year in response to challenging global market conditions for the lithium industry, provides temporary financial assistance to support operations of lithium miners.
Applications will be assessed on a first-come basis with loans of up to $15 million awarded to eligible spodumene concentrate producers in WA.
Last financial year, lithium miners supported more than 11,000 WA jobs.
WA's lithium industry currently supplies around 50 per cent of the world's lithium, but has recently experienced a sudden and unexpected downturn in the price of the critical mineral.
The loan facility is part of the of the $150 million lithium support package announced by the Cook Government to protect local jobs and ensure WA remains a battery metals powerhouse.
For more information and to apply for a loan see: https://www.wa.gov.au/service/business-support/industry-assistance-schemes/lithium-industry-support-program-loan-facility
As stated by Premier Roger Cook:
"Keeping WA's economy strong and supporting local jobs is always the priority for my Government.
"The Lithium Industry Loan Facility will help our lithium miners pull through this challenging period, and come out even stronger into the future.
"Our clean energy plan is positioning WA as a global renewable energy powerhouse, and our critical minerals industry will play a key role in WA's economic future."
As stated by Mines and Petroleum Minister David Michael:
"I urge all eligible lithium miners to apply for the financial support offered by this facility.
"Not only will this facility help lithium miners through the challenging conditions they are experiencing but it will also help protect the jobs of thousands of Western Australians, working in skills areas that will be crucial to the State's future as a critical minerals powerhouse.
"We're providing lithium miners with temporary and responsible support now to give them the best chance of continuing to supply the world with lithium products today and well into the future."
