Australia to propose tax incentives for critical minerals
The proposed law will set up a tax incentive worth 10% of relevant processing and refining costs for 31 critical minerals.
Minerals Down Under Flagship Director Peter Lilly has described the Australian nickel sector as a ‘”jewel in the nation’s crown. Demand for nickel has increased by about 5 to 6% per year over the past decade, and despite fluctuating prices, the future outlook is positive,” he said. “Although our reserves of high-grade nickel are depleting, Australia has large reserves of nickel laterite deposits that will play an important role in meeting future demand. The key to unlocking the value from these deposits is developing economic and environmentally sustainable processing methods.” (more…)
