The funding is planned to be shared among 19 organisations. Credit: Department of Regional NSW.

Australia’s New South Wales (NSW) Government is spending A$8.6m ($5.69m) to support critical minerals exploration in the state.

The funding is planned to be shared among 19 organisations and forms part of the wider A$130m ($86m) Critical Minerals and High-Tech Metals Activation Fund.

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With the fund, the NSW government seeks to position the state as a major global supplier and processor of critical minerals and high-tech metals.

NSW Resources Minister and Deputy Premier Paul Toole said: “Critical minerals and high-tech metals are going to be crucial to future technologies like advanced manufacturing, aerospace, ag-tech and renewables, and this fund will progress projects and support feasibility studies right across the state.

“Our $8.6m investment is being backed in by industry co-contributions and together will drive $30m of investment into growing the critical minerals sector in NSW.

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“We’ve already made it easier for exploration companies to search for critical minerals and produce high-tech metals projects by removing the mineral allocation areas as a key part of the NSW government’s Critical Minerals and High-Tech Metals Strategy.”

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Some of the projects selected for the new funding include Kingston Resources’ study for the development of the polymetallic Southern Ore Zone (SOZ) underground deposit at Mineral Hill; Jervois Global’s studies to advance the Nico Young feasibility study; and Taronga Mines’ innovative processing and smelting of low-grade tin mineralisation.

Kingston anticipates the funding to help it develop high-tech metals, including copper, zinc and silver.