AUD 180 million in conditional government financing for the Donald rare earths (critical minerals) project.
Australia has conditionally approved AUD 180 Million in financing for the Donald rare earths project in Victoria. The project is being developed by Astron and Energy Fuels.
The proposed government financing accommodates up to AUD 70 million from Export Finance Australia and AUD 110 million from the National Reconstruction Fund. The Australian government has separately conditionally approved a USD 41.4 million loan to Global Advanced Metals supporting tantalum production. Tantalum is vital for production of electronic capacitors, aerospace alloys, and medical implants.
A construction decision is expected by the end of 2026. The financing is conditional on due diligence, final documentation, approvals, and the final batch of debt funding from commercial lenders.
The Donald project is intended to develop a source of both light and heavy rare earths, The materials are used in magnets, electronics and defence equipment. The project supports efforts by Australia and the United States to diversify critical- mineral supplies. The announcement follows the countries’ critical-minerals framework signed in October 2025.
Donald’s heavy rare earth content, particularly dysprosium and terbium, is especially important,” Energy Fuels CEO Ross Bhapu said ” We expect Donald to provide a significant long-term source of rare earth feedstock for processing and separation at our White Mesa mill in UTAH.”
