[Ferro-Alloys.com] 

Australia to invest A$22.7bn in renewable energy, critical minerals

The Australian government on Tuesday announced a A$22.7-billion package to boost domestic manufacturing and renewable energy as the country seeks to reduce its reliance on foreign suppliers for key technologies.

The spending will be made over the next decade and comes as major economies invest billions to support clean energy projects and compete with China in manufacturing electric vehicles and semiconductors, seen as vital for prosperity and national security.

Australia wants to build a battery chemicals industry to reap more value from its mineral wealth, but the nickel sector is facing thousands of job cuts after a jump in Indonesian supply saw prices plunge.

• [Editor:邢亚敏]