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Queensland Startup Receives ARENA Backing for Critical Minerals Innovation

The Australian Renewable Energy Agency (ARENA) is providing up to $5 million to Queensland‑based Banks Minerals to develop a pilot plant for its electro‑chemical copper extraction technology. The funding, delivered through the Advancing Renewables Program over three years, aims to de‑risk the transition from lab prototype to field demonstration. Banks Minerals’ process targets low‑grade copper ores, which are typically uneconomic, while cutting energy consumption and emissions. ARENA sees the project as a way to bolster Australia’s critical‑minerals supply chain amid soaring global copper demand.