Australian Strategic will use the money received to support work to identify potential lower-capital and shorter-implementation pathways to rare earths production at its Dubbo project in New South Wales.
The company said the new funds recognise its strategic importance as a future producer of rare earths and critical minerals such as zirconium, niobium and hafnium, which are key to the defence industry.
Australian Strategic said that it will match the grant to further support activities at Dubbo.
“With this funding, we will be able to undertake important work to identify lower capital and shorter implementation pathways to unlock rare earth production at the Dubbo Project and ensure a focused completion of our final FEED,” said Australian Strategic Managing Director and CEO Rowena Smith, while thanking the Australian government for its support.
Located approximately 400 kilometres northwest of Sydney, Dubbo is expected to deliver up to 1,000 local jobs during the construction period and approximately 270 jobs once operational.
Australian Strategic is targeting a final investment decision for Dubbo within the first half of 2026.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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