Queensland-based startup Banksia Minerals is set to receive up to $5 million in funding to advance its copper production pilot project, aimed at strengthening Australia’s critical minerals capability and supporting the clean energy transition. The funding will help progress the company’s innovative processing technology and enhance domestic supply chains for critical energy minerals.
Banksia has developed a breakthrough electrochemical process that enables the efficient extraction of copper from low-grade resources that are typically uneconomic using conventional methods. The technology is designed to reduce both energy consumption and emissions, offering a lower-cost and more sustainable approach to meeting rising global copper demand driven by electrification and renewable energy deployment.
The funding is being delivered through the Advancing Renewables Program by Australian Renewable Energy Agency over a three-year period in two stages. This support will help de-risk the development of Banksia’s pilot plant and facilitate the transition from laboratory prototype to field demonstration, making the technology more attractive to private investors and industry partners.
ARENA CEO Darren Miller highlighted the importance of backing innovative Australian startups to unlock new industries, create jobs, and deliver solutions as the energy system evolves. He noted that innovative approaches like Banksia’s can help address supply constraints by unlocking low-grade copper resources, strengthening domestic supply chains, and contributing to a cleaner and more resilient energy future.
Banksia Minerals was also featured at ARENA’s 2025 Innovation Bay Renewables Startup Showcase, which connects emerging clean energy companies with investors, industry leaders, and commercial partners. Managing Director Leigh Staines emphasised the importance of programs like the Advancing Renewables Program in bridging the gap between early-stage research and real-world industry application, particularly in overcoming supply chain challenges in the resources sector.
Through initiatives like the Advancing Renewables Program, ARENA continues to support startups, mining companies, and research organisations in accelerating the decarbonisation of critical energy minerals. By funding electrified, low-emissions alternatives and scalable technologies, the agency aims to drive cleaner production methods and enable the development of a low-emissions minerals industry in Australia.
