Nickel mining company, Direct Nickel, has received an injection of capital from CSIRO’s Australian Growth Partnership program to work with CSIRO at a new purpose-built facility on unlocking vast nickel reserves.
About 70 per cent of the world’s land-based nickel resources are in a form known as laterites. Australia has about 16 per cent of the world’s laterite resources, but the poor economics of laterite processing have meant that only about 40 per cent of total global nickel production comes from this form of nickel.
The CSIRO’s AGP program – funded by the Australian Government – extends finance to small and medium-sized enterprises that can make a difference in an area of national priority.
The program offers between $500,000 and $2 million per SME, allowing these businesses to purchase R&D capability from anywhere within CSIRO.
Innovation Minister Senator Kim Carr said the AGP provides investment funding to SMEs that are well placed to work with CSIRO and make an impact in areas that matter to Australia.
“The AGP provides a focused and customised way to help businesses overcome the problem of a technology challenge and inadequate finance,” Senator Carr said.
“It is fantastic that we can use the resources of CSIRO – one of the world’s great research agencies – to assist SMEs in this way.”
Direct Nickel has developed a process that allows otherwise uneconomic laterites to be commercially extracted. The process operates at low pressures and temperatures, and recycles about 95 per cent of the process reagents.
CSIRO will invest $1.5 million to fund the construction of a mineral processing prototype facility at its Waterford site in Western Australia, and provide funds to allow Direct Nickel to carry out a scientific collaboration with CSIRO’s Minerals Down Under Flagship.
The collaboration will use the facility to test and develop the Direct Nickel process at a scale that will allow it to be assessed for real-world applications.
Direct Nickel CEO Julian Malnic said the company was attracted to the AGP program because it could deliver a combination of benefits.
“Direct Nickel needed a range of things to demonstrate the feasibility of its new nickel extraction technology: access to CSIRO’s technical experience as well as a pilot facility to refine it. AGP offered us a funding solution that delivered both,” he said.
Media contacts: Aban Contractor, Minister's Office, 0457 989 842
Darren Cundy, CSIRO, 0412 127 065