Ernst & Young will be paid $6 million over the next year by the federal government to vet lithium and cobalt projects in Australia. The projects are slated to export critical minerals to India to assist with the renewables transition.
The Industry Department inked the contract with EY this week for “professional advice on project validation and due diligence”, which will run until late May next year.
A spokesperson for the Department confirmed this work relates to a Memorandum of Understanding (MoU) between the Australian government’s Critical Minerals Office and India’s Khanji Bidesh India Ltd (KABIL) to identify lithium and cobalt mineral assets in Australia.
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