KEY FEATURES
The Lithium Industry Loan Facility includes A$50 million loan facility to help under-pressure lithium miners to access temporary loans to sustain their operations, interest free for up to 2 years.
- Applications Open 20 December 2024 and Close 31 January 2025.
The Western Australian Government Lithium Industry Loan Facility is designed to provide temporary interest-free loans to lithium miners, to support their operations by stabilising production, safeguarding jobs, and fostering the growth of Western Australia’s critical minerals industry.
A $50 million loan facility is available to help lithium miners access temporary interest-free loans to help sustain their operations, based on demonstrating their current financial position and operational plan.
The $50 million Facility is an industry support initiative for the provision of financial assistance under section 10 of the Industry and Technology Development Act 1998 (WA).
KEY REQUIREMENTS
- The total maximum allowable support will be $15 million for each successful applicant.
- Recipients will be required to repay the loan through regular quarterly payments over the two years following the end of the interest-free period.
Applicants should read the Program Guidelines before submitting an application.
ELIGIBILITY FOR FUNDING
To be eligible for financial assistance, Applicants must meet all the following criteria:
1. The Applicant must be actively operating a lithium mine in Western Australia, producing at a commercial scale as of the application date.
2. The operation must be ongoing, with no plans to enter or be currently under care and maintenance.
3. The Applicant must nominate a single mine and clearly outline how the loan will be used to sustain operations. Only one mine application is permitted per Applicant.
4. A clear, actionable plan and strategy to demonstrate the mining operation’s ongoing viability.
5. The Applicant must demonstrate that the project will support the retention of jobs at the relevant lithium mine, with evidence of current employment levels and positions at risk without financial support.
6. The lithium mine’s operations must be compliant with all required licenses, permits, and environmental approvals in accordance with WA Government standards.
7. The project must contribute to Western Australia’s battery and critical minerals strategy, including advancing critical minerals production, sustaining jobs in the lithium mining sector, or supporting downstream processing initiatives.
HOW TO APPLY
All applications must be submitted via the SmartyGrants online portal before 5:00pm Friday 31 January 2025.
Applicants should read the Program Guidelines before submitting an application.
Applications will be assessed on a first-come basis and loans awarded to eligible organisations.
WA LITHIUM INDUSTRY LOAN FACILITY
A $50 million loan facility to help under-pressure lithium miners to access temporary loans to sustain their operations, interest free for up to 2 years.
APPLICATIONS OPEN:
20 December 2024
APPLICATIONS CLOSE:
31 January 2025
Need help with
your Application?
Our experienced Team can help.
Contact Us Today
