Australia’s National Reconstruction Fund Pledges $40 Million Towards 1st Project

After some delay, the Albanese Labor government’s $15 billion National Reconstruction Fund (NRF) has announced its first investment. On Nov. 19, the NRF Corporation (NRF) pledged $40 million for Queensland-based Russell Mineral Equipment (RME). According to the government statement, RME develops technology for mineral processing, particularly critical minerals like copper, gold, platinum, nickel, zinc, and iron ore—key components in clean energy generation and storage. The deal is part of a broader $100 million co-investment with Resource Capital Funds. Ed Husic, the minister for industry and science, said the announcement reflects the Albanese government’s commitment to revitalising Australian manufacturing. “The NRF is playing a vital part, backing the growth of Australia’s manufacturing capabilities,” he said....