The University of Newcastle will be among the beneficiaries of new government investment in the development of Australia's critical minerals industry.
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Tuesday's federal budget included $57.1 million for critical minerals partnerships to secure Australia's place in global supply chains.
The funding is aimed at stepping up international engagement, to attract investment from like-minded partners and accelerate projects of strategic interest.
The centre, established in 2021, is developing and commercialising new and more sustainable mining technologies as demand for minerals - including those used in white goods, smart phones and solar panels - increases.
Executive director of the university's Institute for Energy and Resources Alan Broadfoot said the government's continued investment in the sector was essential to creating a sustainable and sovereign new energy economy.
"We need to be focused on value-adding here in Australia. It brings two benefits - one, we get more financial benefit by manufacturing here but we create a feedstock to create sovereign manufacturing," he said.
This, in turn, would encourage new industries and investment in regions such as the Hunter.
"The new markets for us are new technology manufacturing companies seeking the materials to build their technologies," he said.
"As they ramp up they'll want more internal domestic sovereign supply and that's what the government has been focused on. At the moment if you want a supply of lithium you have to ship it (the raw material) overseas to be processed and then it's got to be shipped back to Australia to be able to do your own production.
Hunter-based Renaissance Energy will be among Australia's largest consumers of lithium.
Energy Renaissance recently moved into the newly completed 4,000 square metre Renaissance One facility at Tomago.
The factory will have an initial battery production capacity of 66 megawatt hours per annum, with plans to scale its Australian operation to 5.3 gigawatt hours of energy storage per annum with an additional investment of more than $200 million.
It is estimated the project will employ 1700 people when it reaches full capacity in about five years. Another 6500 indirect jobs will flow from the project.
A second facility, Renaissance Two, will be built on the same site.
The global demand for existing and next-generation batteries is forecast to increase nine to 10- fold over the next decade.
Matthew Kelly
Matthew Kelly has worked as a journalist for more than 25 years. He has been working as a general reporter at the Newcastle Herald since 2018. In recent years he has reported on subjects including environment, energy, water security, manufacturing and higher education. He has previously covered issues including the health and environmental impacts of uncovered coal wagons in the Hunter Valley, the pollution of legacy of former industrial sites and freedom of information issues.
Matthew Kelly has worked as a journalist for more than 25 years. He has been working as a general reporter at the Newcastle Herald since 2018. In recent years he has reported on subjects including environment, energy, water security, manufacturing and higher education. He has previously covered issues including the health and environmental impacts of uncovered coal wagons in the Hunter Valley, the pollution of legacy of former industrial sites and freedom of information issues.
