News

IP Group Australia investment Banksia Minerals has received a Federal Government grant of up to $A5 million for its breakthrough technology for processing of previously untapped copper reserves. 

The grant from Australian Renewable Energy Agency (ARENA) has ben made through its Advancing Renewables Program (ARP).

The funding will help de-risk development of Banksia Minerals’ pilot plant and support its progression to the field demonstration phase.

Banksia’s uses new electrochemical technology to more efficiently process low-grade copper resources that are usually uneconomic, using conventional methods, while also reducing energy use and emissions.

Banksia Minerals Managing Director Leigh Staines said initiatives like ARENA’s ARP are vital for building a bridge between new technology development and industry application.

“High-quality copper ores are depleting and maintaining production from lower-grade, deeper, and more complex deposits is a challenger for our mining industry,” Ms Staines said.

“Globally, the mining industry can’t keep up with demand without advances in technology like ours.” 

Banksia Minerals Processing is a University of Queensland spin-out that secured $A1.05 million in seed funding from IP Group and the Federal Government’s Resources and Critical Minerals Trailblazer commercialisation hub, a year ago.

Banksia promises zero-carbon copper production on-site, providing opportunities for high-value local manufacturing in Australia.