A rare earths project in the Northern Territory will get federal support of up to $840 million. Video via AAP.
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00:00 This is a huge body of funding that will go to really uplift Australia's capacity in rare earths mining and refining.
00:09 The Federal Government will have put together a package of $840 million, $500 million from the Critical Minerals Facility,
00:18 and $115 million but also from Export Finance Australia's commercial account,
00:23 teamed up with $200 million from the Northern Australia Infrastructure Facility and a previous grant of $30 million from the Modern Manufacturing Initiative.
00:33 This teams up with another body of international funding by international equivalents of REFA and also commercial banking
00:41 to have well over a billion dollars worth of funding to what will be the biggest rare earths mine and integrated refinery in this country.
00:50 I dare say, our fewer earths would say probably the world, but I'll let them confirm that in due course.