Grants to support the growth of Australia's green iron industry

Schebella, Amy

Good afternoon. Thank you for joining us today. My name is Amy Schebella and I'm the manager of the Green Iron and Steel Team in the Department of Industry, Science and Resources. Before we start, please note that this information session is being recorded and the recording will be posted to the programs page on business.gov.au. Participants names and images will not be part of that recording. It's a pleasure to welcome you today to the information session on the Green Iron Investment Fund National Development Stream.

We've structured this session in two halves. First, we'll have a presentation, which will be followed by a question and answer session.

For the question and answer segment, we'll be joined by Cynthia Maalouf, who is an Assistant Manager of Green Iron and Steel, and Ashton Hockley, who is a Grants Program Officer.

Our department recognises the First Peoples of this nation and their ongoing cultural and spiritual connections to the lands, waters, seas, skies and communities. We acknowledge First Nations peoples as the traditional custodians and law keepers of the oldest living culture and pay respect to their elders, past and present. We extend that respect to all First Nations peoples.

Today we're aiming to provide information that supplements some of the key parts of the published guidelines to help prepare an application to the fund.

We intend the information to explain and demonstrate how elements of the guidelines will apply in practice, and we've chosen topics based on the questions we've been receiving. None of the information in today's briefing changes the published information about this grant opportunity.

And if there is any inconsistency between what we say and the published documents, the published documents prevail.

As this is a competitive grant process, it's essential that each application contains all of the required information and is accurate and comprehensive.

Once you've submitted an application, it can't be changed or supplemented, and any interactions the department might have with you when assessing your application can only relate to the information in your written application.

In this session, we'll provide a presentation which will cover the probity requirements for how we engage with you, the funds objectives and outcomes, the eligibility requirements and eligible projects, including some case studies that demonstrate application of the eligibility criteria and the application requirements.

The second part of the session will be questions and answers. You can submit questions at any time during the presentation using the Q&A button at the top of the screen. Questions will initially be visible only to our moderators.

who will review the questions to ensure they are relevant to the Green Iron Investment Fund National Development Stream, and that we can answer them while upholding probity requirements.

This means questions will be excluded if they relate to a specific project or are not about this grant program. The moderators will publish questions after they have been reviewed.

You have the option for your question to be published anonymously, but the moderators will be able to see who's asked each question.

If there's not enough time to answer All the questions, or there are some we can't answer, we will provide you with a written response.

The grant process for the fund is open and competitive. We have a comprehensive approach to managing probity to protect the integrity of the grant decisions that are eventually made. An important part of our probity approach is ensuring transparent and impartial dealings with prospective applicants.

This includes making sure that everybody has access to the same information. We'll post the recording of this session on business.gov.au, along with written responses to the questions received today.

As you're probably aware, the website also includes written answers to questions received outside of this session.

Another part of managing probity requires that we do not provide advice or information on how the grant guidelines apply to the specific circumstances of a particular project.

I'll now speak briefly about the objectives and outcomes of the fund. These are contained in Section 2 of the guidelines. It's essential that an application shows how the project is aimed at meeting the fund's objectives and outcomes.

The objective of the fund's national development stream is to support early mover Green Iron projects to catalyse growth of an Australian Green Iron industry that will value add to Australia's world-class iron ore resources.

The Australian Government is also focused on ensuring that its investment of taxpayer money through the fund delivers clear benefits to the Australian economy, industries and communities.

The outcomes required from the Fund's National Development Stream reflect the benefits that the Australian Government expects a Green Iron industry can deliver for decarbonisation and the Australian economy.

The outcomes describe what is expected to flow from projects that deliver the fund's objectives. This means that applications must specify how the project will achieve both the objectives and outcomes of the fund.

Move on to the eligibility requirements. These are contained in section 4 of the guidelines. The eligibility requirements set out the threshold that must be met for an application to move on to the assessment phase. This means an application must satisfy all of the eligibility requirements.

Schebella, Amy

The requirements for eligible projects are in Section 5, and they specify what types of projects and which expenses of those projects the grant money can be used for. A project in your application must fall within these criteria to be considered for grant funding.

Jaye will now talk about the eligibility requirements.

Jeffers, Jaye

Thanks, Amy.

Eligibility requirements are in place to ensure a successful applicant can enter into a legally binding arrangement with the Commonwealth. The eligibility criteria for the lead applicant includes requirements to have an Australian business number and to be registered in Australia for GST purposes. It also requires an entity.

To be incorporated in Australia, a subsidiary of an international company that is able to meet all the eligibility criteria outlined in the Grant Opportunity Guidelines can be the lead applicant on your project and apply for funding. Joint applications, including consortiums that have an international partner or partners are also acceptable.;

In practice, a nominated company that meets all the eligible requirements may be the lead applicant on behalf of other partnering companies who will jointly deliver the Green Iron project. Any partners will need to be named in the application form, along with any relevant attachments that confirm their Participation. If successful, only the lead applicant will enter the grant agreement on behalf of the other partners and would be the grant recipient. If successful, Dyser would also have partnership arrangements with all other partners. It is up to the consortia to make their own legal arrangements between partner companies for this. Green Iron Project.

The program also has additional eligible eligibility requirements. This program is targeting early movers able to build a facility and produce green iron from 2031, so applications must be able to demonstrate financial and technological readiness.

Funding will be key to the success of a project and it is important to have access to funding to support the project. It is expected that you will have considered how much funding you will need and where it might be sourced from.

You don't have to have all of your funding available immediately. However, you must be able to outline in your application where you propose to get your project funding from and the status of that funding. That's why there is an expectation that FID is reached within 18 months of grant agreement execution if you are successful.

The grant will cover up to 25% of eligible project expenditure. The remaining 75% or more of the project costs must be funded by you from other sources.

This could include a mix of private and government funding sources. However, the project cannot be entirely funded from government backed sources. This includes Commonwealth, state, territory or local government investment facilities. You will need to show in your application how you intend to fund at least 75% of total eligible expenditure yourself.

And that might be through equity, debt financing or other cash contributions. Total grants from all government grant sources cannot exceed 65% of total eligible expenditure over the life of the project. The successful applicant will need to keep DISR advised of any new grant applications they may submit.

And of any successful grant applications throughout the project to ensure the 65% cap requirement is not exceeded. Besides grants, you can also seek other government funding sources subject to those funding sources, guidelines and application requirements.

This would include such things as Export Finance Australia, the National Reconstruction Fund or other capital grant programs. The requirements, including a Minimum Technology Readiness Level or a TRL, are in place to ensure the facility can be constructed and production ready by 2031.

Eligible applications will require a minimum technology readiness level of seven. I'll hand back to Amy to talk about eligible projects.

Schebella, Amy

Thanks, Jay. So when we speak about eligible projects, we're talking about those that meet the requirements of Section 5 of the guidelines, which specifies what grant funds can be used for. A project is only eligible if it aims to meet the objectives and outcomes stated in the grant opportunity guidelines, is focused on capital works and is aimed at establishing a commercial scale green iron facility by March 2031.

Projects included in an application must also consist of eligible activities and eligible expenditure. The criteria for each of these are in the guidelines and they limit what grant funds can be spent on.

The grant guidelines define some key terms that clarify the scope of an eligible project, and they're in section 14.

Your project must meet these definitions to be eligible, so I'll touch on a few of them now. Please note though, that these definitions apply only to this grant opportunity and not more generally.

The green iron definition recognises that a range of technologies can be used to reduce iron ore and produce green iron. For this reason, it does not mandate specific reducing agents but gives examples of some lower emissions reducing agents. The technical assessment panel will assess the viability of the low emissions production method specified in each eligible application.

A green iron facility is one that produces green iron. It cannot be a facility that only uses green iron.

To meet the definition of commercial scale, a green iron facility must have the capacity to produce over 1 million tonnes of green iron per annum. The definition does not require the facility to be actually producing at a rate of over 1 million tonnes per annum by March 2031, provided it has started making and selling some green iron and has a pathway to profitability.

It is also essential that a project is an early mover, which means producing and selling green iron by March 2031. This is because the program is designed to recognise the higher risks and costs borne by early movers and the substantial contribution they make to grow in a new industry.

We’ll now outline 3 case studies that demonstrate how the guidelines apply to project examples. I'll hand over to Jaye, who'll talk to the first one.

Jeffers, Jaye

Thanks, Amy. In our first case study, Alpha Proprietary Limited is applying to the fund for its Combined Hydrogen Facility and Direct Reduced Iron or DRI project. Alpha is also considering applying for the National Reconstruction Fund, a state government capital grant program and Hydrogen Head Start.

Alpha is considering how these additional funding supports would impact their application for the fund.

Because the funding provided by the state government is a grant, it would be considered part of the 65% grant funding cap - If the funding is for eligible expenditure under the guidelines.

The NRF support can be stacked with the fund as the NRF provides concessional financing and not grants, support is not subject to the 65% cap. The important thing to remember is that the project cannot be funded from government backed sources entirely.

While Alpha has not secured this additional funding at the time of application, these funding requirements apply across the grant life cycle.

Hydrogen Head Start funding would be excluded from the funding cap as the cost of inputs is considered ineligible expenditure under the fund's guidelines.

While funding is stackable, Alpha cannot claim expenditure on specific activities, equipment or supplies that are already being supported through other sources.

Thanks, Amy.

Schebella, Amy

Second case study Beta Proprietary Limited plans to develop a magnetite mine, a direct reduced iron facility and an electric arc furnace. It will obtain its renewable energy from third parties.

Beta is considering which parts of its project would be eligible expenditure.

So BETA's planned DRI facility may be considered an eligible project because a DRI furnace produces concentrated iron metal.

Beta's planned EAF and magnetite mine are outside the scope of an eligible project, so for the purposes of the fund would be considered separate from Beta's Green Iron project.

This doesn't prevent beta undertaking steelmaking or magnetite mining, but these activities would not be eligible project expenditure.

While Beta's EAF would not be considered eligible expenditure, connecting infrastructure such as transmission lines and roads could be eligible but up to a cap.

Development of connecting infrastructure within the site is capped at 5% of total expenditure and development of connecting infrastructure beyond the site is also capped at 5% of total expenditure.

The construction of infrastructure for the primary purpose of extracting coal, crude oil or natural gas is ineligible expenditure because the Green Iron Investment Fund is aiming to value add to Australia's iron ore.

In our third case study, Gamma Proprietary Limited is interested in applying for the fund but needs to further test its green iron reduction technology. Its technology is at technology readiness level 5 and Gamma's investors require it to reach TRL7 before they make a final investment decision on a pilot scale facility.

The guidelines allow technology to be between TRL 7 and TRL 9 at the time of application, provided it's demonstrated how the technology will be developed from its current TRL for commercial operations.

A TRL level of seven to nine is intended to acknowledge that diverse technologies can be used to produce green iron and could require adaptation to the Australian context. A project that has a TRL level of five at the time of application would not be eligible.

With regard to final investment decision, you can apply with a project that has not reached FID if the application demonstrates the ability to deliver a positive FID within 18 months of the grant contract being executed.

It is not clear when Gamma's project would reach FID, so its application would need to provide this information, which will be part of the assessment if Gamma's project is eligible.

Lastly, Gamma's project is a pilot scale facility. The fund is for commercial scale projects, so Gamma's project would not be eligible.

I'll now pass to Jaye, who will cover how to prepare your application. This information is in Section 7 of the guidelines.

Jeffers, Jaye

OK.

Thanks, Amy.

Just having a slight delay.

The hints on the slide are to assist you in getting ready to apply. Please note the bold update at the bottom of the slide. The application closing date has been extended. It is now the 17th of February 2026.

The most important tip on the slide is to encourage you to read the guidelines available at business.gov.au. You should also familiarise yourself with other key documents, including the sample application form and the grant agreement both available at business.gov.au. Once you have confirmed your eligibility and have in place the necessary funding arrangements or partnership arrangements if applicable and pulled together your mandatory attachments, you can start the application process.

You will apply online via the grants portal, which is available through the business.gov.au website. You can start an application and save it and work on it over time and as your attachments are finalised.

We encourage you to submit your application on time and not wait till the last minute, you must ensure you include all of the detail and supporting evidence required in your application. There are high expectations for robust, detailed attachments that clearly demonstrate how your project will meet the program's objectives.

Don't submit your application until it's complete. Once you have submitted it, you can't correct a mistake. If you do need help with the process, you can contact us at business.gov.au or call 13 28 46.

You must provide All the mandatory attachments outlined in the guidelines. Each attachment requested has a role in the process. Some of the key examples include a business case, a financial investment plan, a decarbonisation plan and a technology plan.

This is a competitive process, as Amy mentioned before, and we are asking for a lot of Information to support that process. Your attachments should provide confidence to the assessors of your project's readiness, including demonstrating you have the right expertise, resources, plans, finances and governance structures in place to deliver the Green Iron facility by 2031.

Your attachments should substantiate the claims made in your assessment criteria responses and provide the detail and evidence of how you are going to achieve the project. Evidence and details provided must be commensurate to the grant amount sought. That means if you are applying for the maximum available you should have attachments that clearly outline why you need the maximum amount available. Evidence may include relevant approvals, financial supports, or evidence of your governance arrangements such as legal partnerships or other binding arrangements.

Many attachments will be used to develop milestone obligations.

Material changes cannot be made after the closing date.

I'm now going to hand over to Ryan Dawson, who will talk a little more about the community benefits Principles and give an example of one of the mandatory attachments.

Dawson, Ryan

Thanks, Jaye. The Community Benefit Principles are legislated under the Future Made in Australia Act 2024 to ensure projects receiving support deliver genuine benefits to local workers, industries and communities.

There are six Community Benefit Principles as listed on the screen and in Section 2.1 of the Grant Opportunity Guidelines. The principles will be considered as part of the assessment criteria and in accordance with any requirements detailed in the Future Made in Australia Act. The principles are to promote safe and secure jobs that are well paid and have good conditions.

Develop more skilled and inclusive workforces, including by investing in training and skills development and broadening opportunities for workforce participation.

Engage collaboratively with and achieve positive outcomes for local communities such as First Nations communities and communities directly affected by the transition to net zero.

Support First Nations communities and traditional owners to participate in and share the benefits of the transition to net zero.

Strengthen domestic industrial capabilities, including through stronger local supply chains.

Demonstrate transparency and compliance in relation to the management of tax affairs, including benefits received on the future Made in Australia supports.

As part of this grant opportunity, proponents will need to demonstrate how their project is aligned with the Community Benefit Principles by providing a Community Benefit Sharing Plan as an attachment. All CBPS must be addressed in your Community Benefit Sharing Plan.

If your application is successful, you'll be required to develop a Future Made in Australia plan as a milestone in your grant agreement. Your Community Benefit Sharing Plan will contribute to your future Made in Australia Plan and should clearly outline tangible project commitments that provide benefit to the local community in accordance with the future Made in Australia Community Benefit Principles.

You will be required to report on these project commitments.

I'll now hand back to Amy. Thanks.

Schebella, Amy

Thanks, Ryan. So that brings us to the end of the presentation, and we'll move on to questions and answers, which will be moderated by Ashton Hockley, with questions being answered by experts from the department. You can continue to post questions during this time using the Q&A button.

Hockley, Ashton

Thank you very much for that, Amy. I'd like to invite obviously our presenters, Jay, Amy and Ryan back to the Q&A session and obviously also invite any of our attendees to put through any questions they might have into the provided question box and I'll get them as soon as they come through and hopefully we can answer them while we're live on the webinar at the moment.

OK, just bear with me as some questions come through. Um, OK, we do have a question. Is natural gas DRI with CCS considered green iron? Um, this may be best for Cynthia.

Maalouf, Cynthia

Yes, thanks so much, Ashton. Um, so the definition that we have for Green iron does allow for natural gas, but that's where there is a pathway to a lower emission reducing agent. So there must be a demonstrated pathway to kind of go to renewable reducing agents.in your decarbonisation plan, so that is one of those mandatory attachments.

If you do start on natural gas, you will be required to talk about your plan to transition to renewable reducing agents.

And include detailed milestones for when that timeline will happen and baseline data. So we haven't specified anything about CCS in the guidelines, but the technical assessment panel will be assessing that ability that your chosen technological pathway and if that pathway is able to successfully go on to renewables. So I hope that answers that question.

Hockley, Ashton

Fantastic. Thank you for that, Amy.

OK, just bear with me, just waiting for more questions to come through. And obviously also as mentioned previously, um the webinar is being recorded. So a copy of this will actually go live onto the business.gov.au website as will any of the questions and answers that are published. Obviously if you do have a question after the fact, once we actually conclude this meeting today, you're more than welcome to put it through online via the GIIF@industry.gov.au inbox and we'll obviously be able to respond through that. Any of the responses we can also publish on the business.gov.au site as well.

Schebella, Amy

I think we may just be having a technical issue with the Q&A panel, which we're looking to fix at the moment. Just bear with us for a second.

Hockley, Ashton

OK, we have had another one just popped through. Would a business qualify for the grant for producing engineered fuels to reduce coal reliance if partnered with a green ore processing facility? Perhaps for Cynthia?

Maalouf, Cynthia

Thank you very much. So I'll go again to that kind of core definition of an eligible project, which is the reduction of iron ore into a concentrated iron metal. So if you were a partner, in a project that was. you know, producing that concentrated iron metal, you could be a partner in that specific project, but producing engineered fuels would not be eligible expenditure.

So the cost of inputs is ineligible in expenditure underneath the guidelines.

Hockley, Ashton

Excellent. Thank you for that, Cynthia. Um, and just bear with us. Obviously we're just trying to get through some of the questions.

Right. Just bear with me. We've just got some moderators working on some questions to see if they can come through. It's just taking a moment.

OK, we've got another one here. Viable commercial scale green iron technology requires D R. grade magnetite, one of which is produced in Australia currently. Why was support for new DR grade magnetite production excluded?

Maalouf, Cynthia

Thank you so much. So I think the core purpose of this fund, as Amy mentioned, is to kind of value add to those iron ore resources when we do look at the Future Made in Australia national interest framework and why this is one of those priority sectors.

It is about value adding and growing this kind of manufacturing opportunity where Australia does have a comparative advantage.

So that's kind of a core requirement really linked into the Future Native Australia agenda, which is kind of the umbrella that this falls underneath.

So we do acknowledge the value of magnetite, but the focus here is that value add, which is quite essential.

Thank you very much.

Hockley, Ashton

Thank you very much for that, Cynthia.

OK, I've just got another one in. Green Iron projects. Oh sorry, Green Iron projects seeking grant funding are likely sub-commercial and hence the need for grant funding. Is it recognised that any Community Benefit funds will likely increase the grant funding request? Perhaps Ryan?

Dawson, Ryan

Thanks. I think it's important to note that for the purposes of the Community Benefit Principles, the expectations of government is that any responses that are made are proportionate to the scale and size of the investment that has been undertaken.

So if the project that you are developing is sub pre-commercial, then the expectations may be tailored in that case. I think it's it, yeah.

Hockley, Ashton

Thank you very much for that, Ryan.

OK. Will there be another round for this in initiative in the future? Uh, for Amy?

Schebella, Amy

So whether or not there's another round's a matter for the government at the time to make a decision on. It's not something we can, speak to today.

Hockley, Ashton

No problems. Thank you for that. If a project might not reach FID or final investment decision within the 18 month time frame, can they still apply for Jaye?

Jeffers, Jaye

Thanks, Ashton. Projects that may not reach final investment decision within 18 months can still apply. However, the guidelines state that the ability to deliver financial investment decision within 18 months of contract execution is a key assessment criterion for commercial and financial viability reasons.

See Section 6 Assessment Criteria 3. Applicants should clearly explain their FID timeline and any risks or mitigation strategies in their application. Thanks, Ashton.

Hockley, Ashton

Thank you for that, Jaye. Would a business qualify for the grant for producing engineered fuels to reduce coal reliance if partnered with a green ore processing facility?

Maalouf, Cynthia

Is that one answered already?

Hockley, Ashton

Anyone. All right. Yes. Sorry. That's, uh, come through twice. OK, sorry.

Hockley, Ashton

To what extent is the criteria on commercial scale fixed at 1 million tonne per annum? If a project reaches 80% of the commercial scale, would that be adequate?

Maalouf, Cynthia

Yeah.

Is that for me?

Hockley, Ashton

Yes, sorry, Cynthia.

Maalouf, Cynthia

Yes. So that 1 million tonnes per annum is the production capacity that your facilities should have. It is not the actual production volume. So you must have a facility that does have a capacity of 1 million tonnes per annum. That is the minimum, but we don't expect you to be producing at 1 million tonnes per annum and we haven't specified the percentage. But there needs to be that evidence that you are engaged in commercial activities, You are buying and selling green iron by that March 2031 deadline.

So It doesn't have to be immediately producing at capacity, it just has to have that capacity of at least 1,million tons per annum to deliver that value.

Hockley, Ashton

Excellent. Thank you for that, Cynthia. Another one for you. Why I've got you. Would a net Zero emissions facility producing high-grade iron ore, suitable for DRI be eligible?

Maalouf, Cynthia

No. So it would be that core eligibility requirement to engage in reduction of that iron ore to actually, produce a concentrated iron metal. So in this instance, if it is an input that is specifically not eligible because we're really focused on that value add part of the supply chain and that production process and as part of the eligible project, that's one of the things that has to be a prerequisite.

Hockley, Ashton

Thank you for that, Cynthia. How much detail is needed for the February 17, 2026 application deadline? Obviously it's only in a few months, and it may be difficult to meet if the project is not already advanced. For Jaye.

Jeffers, Jaye

Thanks, Ashton.

When you apply, you need to have a response for all of the assessment criteria and as much evidence to support those claims as you can. It's hard to tell if that question is about meeting the application deadline or how far along your project is.But just in case it is in relation to how much information you need for your application flow process, it is all of it. You need to be able to fully respond to the questions in the application form and have all of the mandatory attachments.

If there is no expectation that you will already be necessarily producing green iron or about to commence being able to produce green iron, but you will have to demonstrate how you are going to do that and demonstrate that you are well on the pathway to being able to achieve that 2031.

Time frame. As Amy mentioned at the beginning, this is for early movers, so there is an expectation that you are semi advanced in the process. We have also had the guidelines available from mid-September, so even though the 17th of February seems very close now, you have had access to the guidelines and the supporting documentation to help you start to get ready for a considerable period of time, so I hope that answers that question.

Hockley, Ashton

Thank you for that, Jaye. I'll just keep the spotlight on you for another one, if you don't mind. How much flexibility, if any, will be considered in the 31 March deadline for first production and sales if this timeline is not currently feasible for an organisation? Should that organisation still apply if the timeline is beyond this date for first production?

Jeffers, Jaye

I think the guidelines set the 31st of March 2031 as the as the deadline for achieving commercial operations. That's your first production and sales. There's limited flexibility as this date is defined as the project activity end date.

As referenced in Section 3, if your timeline extends beyond this, you may not meet eligibility requirements, but you can still apply and clearly explain your circumstances. Final decisions on flexibility rests with the program delegate during assessment and contract negotiations, so they would have to take Into consideration, would your project still meet all of the other project objectives and outcomes?

If you weren't going to be able to produce and meet that production requirement of 2031.

Thanks, Ashton.

Hockley, Ashton

Thank you for that, Jaye. Uh, is natural gas with CCSA renewable reagent? It should be as it is, better environmentally than current H2 for Cynthia.

Maalouf, Cynthia

Thank you. So I think in terms of renewable, that is the definition will be up to the technical liability. I'm sorry, the technical assessment panel. But in general something should be a renewable resource. So if it's something that doesn't come from a renewable source, that wouldn't fit the definition a renewable.

Hockley, Ashton

Excellent. Thank you, Cynthia. For Jaye, is NRF debt or equity funding excluded from the sixty-five percent funding cap as it is not a grant?

Jeffers, Jaye

Yes.

Thanks, Ashton. That is correct. NRF funding is not a grant, so it doesn't fall within the 65% funding cap. It forms another part of your funding sources and whilst we are funding only 25% of the project through a grant. You then have to have funding for the other 75, of which NRF funding can form a part, but your project cannot be entirely funded from completely government backed sources.

Thanks, Ashton.

Hockley, Ashton

Thank you for that, Jaye. How firm does the pathway to reach the 1 million tonne per annum capacity need to be if an application is made, to let's say a 50,000 tonne per annum pilot plant that is ultimately part of a of a larger 2.5 million tonne per annum plant does this count or does the project have a Commission in one hit towards the 1 million tonne capacity? For Jaye.

Jeffers, Jaye

You need to be producing commercially, but it doesn't have to be at full scale.

Hockley, Ashton

Excellent. Thank you for that.

Is pelletising equipment included in eligible expenditure under the grant?

Hockley, Ashton

Jaye.

Maalouf, Cynthia

I can also answer that one. Yeah, no worries. No. So that would be something we consider a cost of input, which would be ineligible expenditure. So cost relating to pelletising would not be considered.

Jeffers, Jaye

Thank you, Cynthia.

Hockley, Ashton

Oh, thank you. Yeah.

Excellent. Thank you for that, Cynthia. Is there a maximum grant amount per project? If So, what is the cap for Jaye?

Jeffers, Jaye

Thanks, Ashton. Yes, the National Development Stream has a total pool of at least 500 million available. There is no fixed maximum grant amount per project. Instead, the guidelines state that the grant will cover up to 25% of eligible project expenditure.

The remaining 75% must be funded from other sources.

Hockley, Ashton

Excellent. Thank you for that, Jaye.

Hockley, Ashton

OK, another one for yourself, Jaye, just to keep you busy. At a if possible, at a ballpark or an estimated level, what quantum of funding does the grant expect to deploy per project? IE is a 50 million, is that implying to a $200 million build considered at a minimum?

Jeffers, Jaye

OK.

I don't think that we have, you know, a quantum of funding in mind. We've just got that split between the 25 and 75% of what we will fund. Obviously if you were applying for 50 million, then yes, we are implying that a $200 million.

Build would be considered the minimum that you could apply for, but it is really about what you are proposing to build.

The total cost of that and whether or not within that $500 million bucket, we can fund 25% for you.

Hockley, Ashton

Excellent. Thank you for that, Jaye. A question, probably for Cynthia, what do you mean pathway to renewable for natural gas user? Is there a timeline for this?

Maalouf, Cynthia

Thank you. So that will be specified in your decarbonisation plan. We haven't specified a timeline because we understand people are using different technologies. A lot of this can be location dependent.

So it'll be up to the applicant to define that timeline. It will be assessed, however, by a panel of experts who do have expertise in these processes, the time taken to decarbonize and expertise in these technologies.

So it is something that while it is proposed, we will consider it amongst other applications and the tech, you will be assessed on it based from our panel. Thank you very much.

Thank you for that, Cynthia. Um, when will contracts be finalised and when will all of the funds be committed? Is it possible for a contract to be finalised in say 12 months, which would then start the 18 month clock for reaching final investment decision or FID. For Jaye?

Jeffers, Jaye

Thanks, Ashton. Contracts are generally expected to be negotiated and awarded within up to 12 weeks after approval, as outlined in the guidelines process timeline. The fund will be committed as contracts are executed with successful applicants. It is possible for a contract to be finalised within 12 months.

And once the grant agreement is executed, this will start the 18-month period for achieving financial investment decision.

We would be negotiating through that period and we would certainly hope that we could negotiate a contract in a significantly shorter period than 12 months, however.

Hockley, Ashton

Excellent. Thank you. I'm not sure if this is better suited for Jaye or for Cynthia to answer. Um, regarding the pelletiser equipment, in relation to its eligibility under eligible expenditure, is it still ineligible if it is co-located with and part of a broader DRI production facility?

Maalouf, Cynthia

I can answer, yes, that wouldn't be. It would still be considered an ineligible expense, even if it is co-located.

Hockley, Ashton

Thank you very much for the clarification there, Cynthia.

Hockley, Ashton

OK, I think that brings us to the end of our Question Time that have actually come through. Um, but obviously that doesn't end. For your side of things, you're still welcome to put any submission or questions through to , the GIIF@industry.gov.au e-mail address as well.

Hockley, Ashton

I'll hand back to Amy and she'll be able to, close off our webinar today.

Schebella, Amy

Thanks very much, Ashton. So thank you everyone for your questions. As we've outlined, you'll get a written response if it wasn't answered today, and you can still submit questions at any time to GIIF@industry.gov.au.

If you have enquiries about Green Iron that aren't related to the fund, you can also direct those to greenmetals@industry.gov.au. So we will be posting written answers to the questions under the further guidance section of the GIIF National Development Stream page on business.gov.au and add the information from this session to that page.

If you do require more detailed information than you've received in a written answer or is on the website, Business Grants Hub can meet with potential applicants individually under strict probity conditions.

So that brings our information session to a close. We thank you very much for attending and we hope it's been helpful. We look forward to receiving your applications. We wish you a very pleasant evening.