Queensland startup Banksia Minerals is set to receive up to $5 million in funding to support its copper production pilot project, which aims to help strengthen Australia’s critical minerals capability and accelerate the nation’s clean energy transition.
Banksia Minerals’ electrochemical technology enables the efficient processing of low-grade copper resources that are typically uneconomic with conventional methods, while reducing energy use and emissions.
The funding, provided through ARENA’s Advancing Renewables Program and delivered in two stages over three years, will help de-risk Banksia Minerals’ pilot plant development and support the project’s progression from laboratory prototype to field demonstration.
“The rapid growth in global electrification and renewable energy deployment has seen copper demand grow to unprecedented levels whilst supply remains constrained,” said ARENA CEO Darren Miller.
“Innovative solutions like Banksia’s help meet that growing demand by unlocking low-grade resources, strengthening domestic supply chains and supporting a cleaner, more resilient energy future.”
Banksia Minerals was showcased at ARENA’s 2025 Innovation Bay Renewables Startup Showcase, an event that brings together emerging clean‑energy companies with investors, industry leaders and commercial partners.
“Coming from industry, I appreciate it is challenging to invest time and resources into early-stage innovation when the focus is on day-to-day operations and delivery,” Banksia Minerals Managing Director Leigh Staines.
“Yet we know that step-change solutions will only be delivered through the development of breakthrough research that can address the supply chain challenges faced by the resources sector and its ultimate customer base – all of us.”
By funding electrified, low-emissions alternatives to diesel and gas-based systems and scalable technologies across a range of critical energy minerals, ARENA aims to enable cleaner production and drive a low emissions minerals industry.
