Queensland Critical Minerals Fund expanded to A$250 million

The expanded capital base strengthens the Fund's capacity to invest in the next generation of Queensland critical minerals, accelerating development pathways from resource exploration and extraction, through processing and refining, to advanced manufacturing and recycling.

Since inception, the QCMF has committed more than A$155 million across nine investments, deploying capital through royalty, debt and equity into a diversified portfolio with exposure across copper, rare earths, vanadium, silica, silver-indium, high-purity alumina and industrial processing projects.
The mandate reinforces Queensland's ambition to become a trusted, end-to-end supplier of critical minerals to global markets.

The second largest major category in the CPI, food, was also a major driver of inflation in September quarter, with strong price rises across almost all subcategories, from fruit and vegetables, to milk, to restaurant and takeaway meals. Overall, food prices rose 3.2% q/q and 9.0% y/y in the 2022Q3, contributing 0.5ppt to quarterly inflation and 1.5ppt to annual inflation.

QCMF Fund Manager Joshua Risson said the additional capital reflects the scale of the opportunity emerging across Queensland's critical minerals sector.

Queensland is increasingly recognised as a globally competitive destination for critical minerals investment, underpinned by world-class resource endowments, established mining expertise, growing downstream processing capability and access to international markets

Joshua Risson - QCMF Fund Manager

"With global demand only increasing, the opportunity now is to accelerate the development of high-quality projects and ensure they can access the capital required to progress through key milestones.

"The QCMF deploys through flexible structures, including exposures that can be overlooked, or into minerals that are considered more challenging or complex.

"We are focused on building an integrated and resilient supply chain in Queensland - from investing in established brownfield mining assets to downstream processing and refining operations."

Mr Risson said the Fund demonstrates the important role specialist capital can play in supporting projects during stages of development that are often under-served by traditional financing markets.

"Many projects require capital for works like drilling programs, feasibility studies, permitting and early-stage development work that can materially improve project quality, reduce risk and enhance bankability," he said.

"Our experience has shown that targeted investment at these stages can accelerate development pathways, validate investment propositions and help crowd-in substantial follow-on capital from strategic investors, lenders and institutional capital providers."

QCMF is a $250 million Queensland Government initiative managed by QIC, deploying capital through flexible structures including equity, debt and hybrid arrangements to support commercially viable projects delivering strategic economic benefits to the State.