How & where we invest

NAIF Investment Decision Notifications

Stay informed with NAIF's investment decision notifications.

View From Below Of A Blue And White Construction Crane At JCU Engineering And Innovation Place Site

Nolans Bore Rare Earths Project

On January 23, 2024, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $200m, to the Arafura Rare Earths Limited Nolans Bore Rare Earths Project in the Northern Territory.

Name of project proponent:

Arafura Rare Earths Limited

Nature of investment/project:

The Nolans Rare Earths Project comprises the development of a rare earths mine and processing facilities (including beneficiation, extraction, and separation plants)

Location:

135km north of Alice Springs, Northern Territory

Type of Financing Mechanism:

Loan

Amount of Financing Mechanism:

up to $200m

Commercial in confidence

On January 23, 2024, the NAIF Board made an Investment Decision to offer a Financing Mechanism in the form of a loan, to a project located in Queensland.

The project’s Indigenous Engagement Strategy (IES) encompasses commitments in crucial areas such as participation, employment, procurement, and community development. Additional information relating to the project, including the IES, will be published within 30 days of the conclusion of the Minister’s consideration period.

Mater Private Hospital Townsville Maternity and Renal Project

On 26 September 2023, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $25 million, to Mater Private Hospital Townsville (Mater Misericordiae Ltd) for the purpose of constructing a single level maternity suite and the refurbishment of an existing building to house renal services.

Name of project proponent:

Mater Private Hospital Townsville (Mater Misericordiae Ltd).

Nature of investment/project:

The Project comprises a single level purpose-built maternity suite and the refurbishment of an existing building to house renal services. It also involves transferring the maternity and renal services from Hyde Park to Pimlico campus, thereby providing modern facilities, and growing renal capacity to meet community demand and local population growth.

Location:

Pimlico Campus, Mater Private Hospital Townsville, QLD

Type of Financing Mechanism:

Loan

Amount of Financing Mechanism:

up to $25m

Heritage Minerals, Queensland

On 1 December 2022, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $66 million, to Heritage Minerals for the Mount Morgan Gold Mine project located in Mount Morgan, Queensland.

Name of project proponent:

Heritage Minerals

Nature of investment/project:

Mount Morgan Gold Mine

Location:

Mount Morgan, Queensland.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $66m

Hastings Technology Metals Limited, Yangibana Rare Earths Project

On 1 December 2022, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $220 million, to Hastings Technology Metals Limited for the purpose of development of the Yangibana Rare Earths project located in the Gascoyne Region and Onslow, Western Australia.

Name of project proponent:

Hastings Technology Metals Limited

Nature of investment/project:

Development of the Yangibana Rare Earths project which comprises the mine site located the Gascoyne region of Western Australia and a hydrometallurgical plant located in Onslow, Western Australia. The Project will produce up to 15,000 tonnes of mixed rare earths carbonate (“MREC”) product with primary content being neodymium and praseodymium (used for permanent magnets) over 14.25 years’ mine life.

Location:

Gascoyne Region and Onslow, Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $220m

Pilbara Minerals Ltd P680 Expansion Project, Western Australia

On 20 September 2022, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $125 million, to Pilbara Minerals Limited in Western Australia for the purpose of supporting the expansion of operations at its Pilgangoora Operations.

Details of the decision are:

Name of project proponent:

Pilbara Minerals Limited

Nature of investment/project:

P680 Expansion Project.

Location:

P680 Expansion Project.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $125m

Perdaman Urea Project, Western Australia

On 31 August 2022, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $220m to Perdaman Chemical and Fertilizers Pty Ltd (PCF) for the purpose of development of the Perdaman Urea Plant, located in Burrup Peninsula, north of Karratha, Western Australia.

Details of the decision are:

Name of project proponent:

Perdaman Chemical and Fertilizers Pty Ltd (PCF).

Nature of investment/project:

Development of the Perdaman Urea Plant.

Location:

Burrup Peninsula, north of Karratha, Western Australia.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $220m

Thunderbird Minerals Sands Project (Kimberley Mineral Sands), Western Australia

On 31 March 2022, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan up to $160m for Kimberley Mineral Sands (KMS), for the development of the Thunderbird Mineral Sands Project which comprises a mine, process plant and non-process infrastructure.

Details of the decision are:

Name of project proponent:

Kimberley Mineral Sands Pty Ltd

Nature of investment/project:

Infrastructure related to the development of the Thunderbird Mineral Sands Project which comprises a mine, process plant and non-process infrastructure.

Location:

The Dampier Peninsula, Kimberley region northern WA, between Derby and Broome.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $160m

Hastings Technology Metals Limited, Yangibana Rare Earths Project

On 13 December 2021 the NAIF Board made an Investment Decision to offer a Financing Mechanism to Hastings Technology Metals Limited. The proposed financial assistance comprises a loan of up to A$140m to fund the development of the mine site and a hydrometallurgical plant in Western Australia.

Name of project proponent:

Hastings Technology Metals Limited

Nature of investment/project:

Development of the Yangibana Rare Earths project which comprises the mine site located the Gascoyne region of Western Australia and a hydrometallurgical plant located in Onslow, Western Australia. The Project will produce up to 15,000 tonnes of mixed rare earths carbonate (“MREC”) product with primary content being neodymium and praseodymium (used for permanent magnets) over 14.25 years’ mine life.

Location:

Gascoyne Region and Onslow, Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $140m

Burrup Scheme Upgrade (WaterCorp), Western Australia

On 9 November 2021 the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $95m, to WaterCorp for the development of critical infrastructure to support the Perdaman Urea Plant including the expansion of the Burrup seawater supply and brine disposal scheme.

Name of project proponent:

WaterCorp.

Nature of investment/project:

Development of critical infrastructure to support the Perdaman Urea Plant including the expansion of the Burrup seawater supply and brine disposal scheme.

Location:

Pilbara region, Western Australia.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $95m

Expansion of Dampier Port (Pilbara Ports Authority), Western Australia

On 9 November 2021 the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $160m, to Pilbara Ports Authority for the development of critical infrastructure to support the Perdaman Urea Plant including a new multi-user bulk export wharf, including berth and landside at the existing Port of Dampier.

Name of project proponent:

Pilbara Ports Authority.

Nature of investment/project:

Development of critical infrastructure to support the Perdaman Urea Plant including a new multi-user bulk export wharf, including berth and landside at the existing Port of Dampier.

Location:

Pilbara region, Western Australia.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $160m

Northern Territory Local Jobs Fund, Northern Territory

On 22 September 2021, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $50m to the Northern Territory Government via the Northern Territory Local Jobs Fund.

Name of project proponent:

Northern Territory Government.

Nature of investment/project:

The project is a proposed financing partnership with the Northern Territory Local Jobs Fund to deliver a growth capex concessional lending program in the Northern Territory. Eligible projects will be across multiple business sectors.

Location:

Northern Territory.

Type of Financing Mechanism:

Unsecured limited recourse loan to Northern Territory Local Jobs Fund (through Northern Territory Treasury Corporation) for the purposes of onlending of secured loans.

Amount of Financing Mechanism:

up to $50m

Alliance Aviation Services Ltd, Queensland

On 12 August 2021, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $30m in relation to the development of the Alliance Aircraft and Maintenance facility, located at Rockhampton Airport, Rockhampton, Queensland.

Name of project proponent:

Alliance Aviation Services Ltd.

Nature of investment/project:

The Project will enable Alliance to relocate the heavy base maintenance of its entire aircraft fleet, which since 2015 have been serviced predominantly overseas.  The benefits of the Project to Alliance include cost control and operational certainty around its long-term aircraft maintenance plans for its expanding fleet.

Location:

Rockhampton, Queensland.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $30m

Kimberley Cotton Company Ltd, Western Australia

On 12 August 2021, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $32m in relation to the construction of a cotton gin facility, located in Kununurra, within the east Kimberley region of Western Australia.

Name of project proponent:

Kimberley Cotton Company Ltd.

Nature of investment/project:

The Cotton Gin Facility will comprise a two-stand gin module and ancillary infrastructure.

Location:

Kununurra, Western Australia.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $32m

Pembroke Resources, Olive Downs South Project, Queensland

On 21 April 2021, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $175m in relation to the development of the Olive Downs South Project, a greenfield metallurgical coal mine and associated infrastructure, located in the Bowen Basin, Queensland.

Details of the decision are:

Name of project proponent:

Pembroke Olive Downs Pty Ltd

Nature of investment/project:

Construction of road, water infrastructure, rail, power supply infrastructure and coal handling preparation plant.

Location:

Bowen Basin, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $175m

BCI Minerals Limited, Western Australia

On 10 December 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $450m, in relation to the development of salt and sulphate of potash production facilities, and a port facility. The project is located between Dampier and Onslow in the Pilbara region, north-west of WA.

Details of the decision are:

Name of project proponent:

BCI Minerals Limited

Nature of investment/project:

The development of salt and sulphate of potash production facilities, and a port facility.

Location:

Pilbara region, north-west of WA

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $450m

Financial assistance to the project is subject to a number of conditions including the finalisation of the Western Australian Government’s consideration and agreement for the approved funds to be advanced.

On 28 September 2021 the NAIF Board made an Investment Decision to offer an additional Financing Mechanism of $40 million to support the project.

For the purpose of Section 17(2) of the Investment Mandate details of that additional decision are as set out above for the original BCI Minerals decision, except as follows:

Amount of Financing Mechanism:

up to $40m

Humpty Doo Barramundi Pty Ltd, Northern Territory

On 10 September 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $24.2m, in relation to the Humpty Doo Barramundi Pty Ltd stage two expansion of its barramundi farm in the Northern Territory. The second stage of the expansion being financed by NAIF includes new infrastructure including ponds and improvements to existing facilities such as the nursery, packing shed, roads, and electrical elements which includes the addition of rooftop solar.

Details of the decision are:

Name of project proponent:

Humpty Doo Barramundi Pty Ltd

Nature of investment/project:

Infrastructure associated with second stage of expansion.

Location:

Humpty Doo, Northern Territory

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $24.2m

CQUniversity Australia, Queensland

On 30 July 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism to CQUniversity Australia in relation to package of capital expenditure programs at the university over two years.

Details of the decision are:

Name of project proponent:

CQUniversity Australia

Nature of investment/project:

Package of capital expenditure programs including digital infrastructure.

Location:

CQUniversity campuses in Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $76m

Merricks Capital Pty Ltd Hudson Creek Power Station and Batchelor Solar Farm

On 30 July 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism to Merricks Capital Pty Ltd in relation to the construction and development of the Hudson Creek Power Station and Batchelor Solar Farm Projects.

NAIF’s Financing Mechanism will contribute to the construction of a 12MW capacity gas power plant in Darwin and a 10MW capacity solar farm, 100km south of Darwin. Power generated by the facilities will provide Rimfire, the largest private electricity retailer in the Territory, with up to 90 per cent of its future electricity generation needs.

Details of the decision are:

Name of project proponent:

Merricks Capital Pty Ltd

Nature of investment/project:

Construction of a a 12MW capacity gas power plant and a 10MW capacity solar farm.

Location:

Darwin and Darwin region, Northern Territory

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $37m

Strandline Resources Limited Coburn Heavy Mineral Sands Project

On 19 June 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the construction and development of the Coburn Heavy Mineral Sands Project (Project).

The Coburn Heavy Mineral Sands Project is located 240km north of Geraldton in the Gascoyne region of WA. The development of the Project will allow for mining operations, beneficiation, minerals separation processing and associated infrastructure to produce 23.4Mtpa of mineral sand products. The initial life of the mine is 22.5 years.

Details of the decision are:

Name of project proponent:

Strandline Resources Limited

Nature of investment/project:

Development of the Project to allow for mining operations, beneficiation, minerals separation processing and associated infrastructure to produce 23.4Mtpa of mineral sand products.

Location:

Gascoyne region of WA.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $150 million

Charles Darwin University – CDU City and Casuarina Campus Project, Northern Territory

On 19 June 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to Charles Darwin University – CDU City and Casuarina Campus Project. NAIF’s Financing Mechanism will contribute to the Project which involves the construction (i) of a new Education and Community precinct in Darwin city (“CDU City Campus”) and (ii) to re-purpose the existing campus at Casuarina (together known as the “Project”).

Details of the decision are:

Name of project proponent:

Charles Darwin University

Nature of investment/project:

Construction of a new Education and Community precinct in Darwin city (“CDU City Campus”) and the repurposing of the existing campus at Casuarina.

Location:

Darwin, Northern Territory

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $151.5m

Mater Health Services North Queensland Limited, Queensland

On 30 March 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to Mater Health Services North Queensland Limited, for the purposes of the construction of a six-level car park facility at the Mater Hospital, Pimlico Campus in Townsville. NAIF’s Financing Mechanism will contribute to a three stage redevelopment of Mater Private Hospital’s Pimlico campus in Townsville and will finance the accelerated development of the car park which is a critical part of the overall redevelopment and will assist in reducing congestion in surrounding neighbourhoods, enhance convenience for visitors and patients and improve employee safety.

Details of the decision are:

Name of project proponent:

Mater Health Services North Queensland Limited

Nature of investment/project:

Construction of a six-level car park facility at the Mater Hospital, Pimlico Campus in Townsville. This car park is a critical part of the hospital’s three stage redevelopment.

Location:

Townsville, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $19.75m

James Cook University, Queensland

On 14 January 2020 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to James Cook University (JCU) for the purposes of developing new student accommodation located on JCU’s Townsville Campus.

Details of the decision are:

Name of project proponent:

James Cook University

Nature of investment/project:

Construction of a new student accommodation facility

Location:

James Cook University Townsville Campus, Townsville, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $46m

Northern Territory Treasury Corporation (Northern Territory Government), Northern Territory

On 26 November 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism to the Northern Territory Treasury Corporation, guaranteed by the Northern Territory Government, in relation to the Darwin Ship Lift and Marine Industry Park Project for the purposes of constructing a ship lift facility and associated marine industry infrastructure (‘Project’) in the East Arm precinct of Darwin harbour. The Project will consolidate Darwin’s position as a hub for marine maintenance and servicing in northern Australia.

Details of the decision are:

Name of project proponent:

Northern Territory Government

Nature of investment/project:

Construction of an open access multi-user ship lift facility and associated marine industry infrastructure.

Location:

East Arm Precinct, Darwin NT

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $300m

Cowboys Rugby League Football Limited, Queensland

On 11 November 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the development of the Cowboys Community High Performance and Training Centre. This multi-user social infrastructure project is now a core piece of community infrastructure for Townsville delivering significant economic and social benefits to the region.

Details of the decision are:

Name of project proponent:

Cowboys Rugby League Football Limited

Nature of investment/project:

Construction of multi-user social infrastructure comprising multi-sport high-performance training spaces, sports medicine and sports science laboratories, community spaces and a full sized training field, in addition to administrative office space.

Location:

Townsville, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $20m

Metro Mining Limited, Queensland

On 11 November 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the construction of an offshore floating terminal as part of the expansion of Metro Mining’s operational Bauxite Hills Mine north of Weipa in Far North Queensland.

Details of the decision are:

Name of project proponent:

Metro Mining Limited

Nature of investment/project:

Construction of an offshore floating terminal, to facilitate the loading of bauxite from barges on to ships for transportation to customers.

Location:

North of Weipa, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $47.5m

Signature Onfarm Pty Ltd, Queensland

On 30 August 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the construction of an on‑farm, greenfield specialist service, beef processing facility with onsite accommodation for up to 70 employees and other ancillary amenities, located in Clermont, Queensland, being developed by Signature Onfarm Pty Ltd.

Details of the decision are:

Name of project proponent:

Signature Onfarm Pty Ltd

Nature of investment/project:

Construction of an on‑farm, greenfield specialist service, beef processing facility with onsite accommodation for up to 70 employees and other ancillary amenities including office, amenities, lairage, waste water treatment, dry store building, irrigation system and supporting water, energy, telecommunications, road and IT infrastructure.

Location:

Clermont, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $25m

Genex Power Limited, Queensland

On 8 July 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the construction of a 250MW pumped storage hydro project. This is the first pumped hydro energy storage scheme globally to utilise an abandoned mine.  The project’s storage capability makes renewable energy dispatchable and reliable, which is a critical need in order to increase the market share of renewable generation. The additional source of peak generation capacity will lead to lower average wholesale power prices which would flow to end users through the competitive retail power market.

Details of the decision are:

Name of project proponent:

Genex Power Limited

Nature of investment/project:

Construction of a 250MW pumped storage hydro project

Location:

Kidston, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $610m

Alinta Energy Pty Ltd, Western Australia

On 15 February 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism, to Alinta Energy Pty Ltd, in relation to the Chichester Solar Gas Hybrid Project, East Pilbara, WA. The project will enable Alinta Energy Pty Ltd to supply electricity to the Fortescue Metals Group Limited (Fortescue) Chichester Hub iron ore mines, allowing operations at the mining hub to be among the first globally to demonstrate up to 100% of its daytime power requirement by renewable energy.

Details of the decision are:

Name of project proponent:

Alinta Energy Pty Ltd

Nature of investment/project:

Infrastructure including: a 60MW solar PV powerstation; transmission infrastructure; switchyards; and substations to supply electricity

Location:

East Pilbara

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $90m

Kalium Lakes Limited, Western Australia

On 15 February 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the Beyondie Sulphate of Potash Project, a major potash mining operation located southeast of Newman, Western Australia that is being developed by Kalium Lakes Limited.

Details of the decision are:

Name of project proponent:

Kalium Lakes Limited

Nature of investment/project:

Development of the Beyondie Sulphate of Potash Project involving sulphate of potash (SOP), with initial production of 90ktpa SOP plus supporting infrastructure comprising a 78 kilometre gas pipeline, a gas-fired power station, access road, communication facilities, an airstrip and an accommodation village.

Location:

Southeast of Newman, within the Shires of Wiluna and Meekatharra of Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $74m

On 26 August 2021 the NAIF Board made an Investment Decision to offer an additional Financing Mechanism of $10 million to support the Beyondie Sulphate of Potash Project.

For the purpose of Section 17(2) of the Investment Mandate details of that additional decision are as set out above for the original Kalium Lakes decision, except as follows:

Amount of financing mechanism:

up to $10m

Queensland Airports Limited, Queensland

On 7 January 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the redevelopment of the Townsville Airport Passenger Terminal, known as Project Alive.

Details of the decision are:

Name of project proponent:

Queensland Airports Limited

Nature of investment/project:

Redevelopment and expansion of the Townsville Airport Passenger Terminal including substantial refurbishment of the terminal (such as doubling the capacity of the departure lounge, new boarding gates, expanded security areas and the installation of self-check in and bag-drop facilities), better road access and an upgrade to core infrastructure.

Location:

Townsville, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $50m

Northern Territory Airports Pty Ltd, Northern Territory

On 7 January 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to Northern Territory Airports Pty Ltd for the purposes of a range of investments at Darwin, Alice Springs and Tennant Creek Airports (‘Project’), as part of a $300m infrastructure expansion package, located in the Northern Territory.

Details of the decision are:

Name of project proponent:

Northern Territory Airports Pty Ltd

Nature of investment/project:

A range of investments as part of an infrastructure expansion package across airport sites in Darwin, Tennant Creek and Alice Springs including:

  • the construction of a freight and cold storage and an export hub at Darwin International Airport;
  • solar energy farms at Darwin, Tennant Creek and Alice Springs along with an off-site multi-user battery; and
  • upgrades to Alice Springs Airport including the resurfacing of the airport’s runway, taxiways and apron and installation of new runway lighting.

Location:

Darwin, Alice Springs and Tennant Creek, Northern Territory.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $150m

James Cook University, Queensland

On 15 June 2018 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to James Cook University for the purposes of funding of the Technology Innovation Complex, as part of a larger Enterprise Bundle which has a total project value of $174 million.

Details of the decision are:

Name of project proponent:

James Cook University

Nature of investment/project:

Building of a Technology Innovation Complex, a 10,000m2 centre for students, industry partners and researchers.

Location:

James Cook University Townsville Campus, Townsville, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $98.0m

Voyages Indigenous Tourism Australia Pty Ltd, Northern Territory

On 14 May 2018 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to Voyages Indigenous Tourism Australia Limited, for the purposes of funding the upgrading of the Connellan Airport and required contractor accommodation, in Yulara, Northern Territory.

Details of the decision are:

Name of project proponent:

Voyages Indigenous Tourism Australia Pty Ltd

Nature of investment/project:

Airport runway, taxiway and apron upgrade, runway lighting and provision of contractor accommodation.

Location:

Yulara, Northern Territory

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $27.5m

Humpty Doo Barramundi Pty Ltd, Northern Territory

On 3 May 2018 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the Humpty Doo Barramundi Pty Ltd stage one expansion of its barramundi farm in the Northern Territory. The first stage of the expansion being financed by NAIF includes a solar farm, medium fish nursery and processing equipment.

Details of the decision are:

Name of project proponent:

Humpty Doo Barramundi Pty Ltd

Nature of investment/project:

Development of a solar farm,  a medium fish nursery, processing equipment and adult fish feeding systems.

Location:

Humpty Doo, Northern Territory

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $7.18m

Onslow Marine Support Base, Western Australia

On 29 September 2017 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the Onslow Marine Support Base in Western Australia. It will provide supply and support services for onshore and offshore businesses such as logistics, fuel suppliers, waste management, and construction and maintenance companies in the Carnarvon Basin.

Details of the decision are:

Name of project proponent:

Onslow Marine Support Base Pty Ltd

Nature of investment/project:

Development of a marine supply facility including wharf and harbour expansion.

Location:

Beadon Creek Onslow, Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $16.8m

Investment Decisions no longer progressing with NAIF loan

The following projects received an Investment Decision with an offer of financial assistance from NAIF, however, are no longer progressing. Projects not progressing with NAIF’s financial assistance occur for a variety of reasons including, but not limited to, the project proponent receiving commercial funding and no longer requiring NAIF’s financial assistance, the project no longer proceeding, or being superseded by a new Investment Decision, changes to the project resulting in NAIF’s financial assistance no longer being required or permitted under NAIF’s mandate, or due to the Minister issuing a rejection notice under the NAIF Act.

Pippingarra Road Upgrade, Western Australia

On 2 August 2018 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to Pilbara Minerals Limited for the purposes of upgrading the Pippingarra Road, a public road located south of Port Hedland, Western Australia, which would be heavily used by Pilbara Minerals Limited, resource businesses and nearby pastoral stations whilst remaining available for public use.

Details of the decision are:

Name of project proponent:

Pilbara Minerals Limited

Nature of investment/project:

Upgrading the public Pippingarra Road

Location:

Pippingarra Road, running south from an intersection with the Great Northern Highway to the east of Port Hedland, Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $19.5m

Thunderbird Minerals Sands Project (Kimberley Mineral Sands), Western Australia

On 28 August 2018 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the Thunderbird Mineral Sands Project, a mineral sands operation in the west Kimberley region of Western Australia, which is being developed by Sheffield Resources Limited.

Details of the decision are:

Name of project proponent:

Sheffield Resources Limited

Nature of investment/project:

Construction of infrastructure including LNG power station and reticulation, site accommodation village and processing facility and also upgrading of existing local road and port infrastructure all to support the Thunderbird Mineral Sands Project.

Location:

West Kimberley, between Derby and Broome, Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $95m

Australian Aboriginal Mining Corporation, Western Australia

On 22 August 2019 the NAIF Board made an Investment Decision to offer a Financing Mechanism in relation to the First Iron Project, Australia’s first substantially Indigenous-owned and operated iron ore mine located north west of Newman, Western Australia that is being developed by Australian Aboriginal Mining Corporation.

Details of the decision are:

Name of project proponent:

Australian Aboriginal Mining Corporation Pty Ltd

Nature of investment/project:

Construction of a borefield, crushing plant and site accommodation and a 55km haul road to connect the Great Northern Highway to the Cloudbreak site.

Location:

80 kms north west of Newman, Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $12.5m

Kalium Lakes Limited, Western Australia

On 7 May 2020 the NAIF Board made an Investment Decision to offer an additional Financing Mechanism of up to $10.5 million to support the Beyondie Sulphate of Potash Project to meet additional forecast construction costs and contingencies for the Project.

For the purpose of Section 17(2) of the Investment Mandate details of that additional decision are as set out above for the original Kalium Lakes decision, except as follows:

Amount of Financing Mechanism: up to $10.5m

Amount of Financing Mechanism:

up to $10.5m

LNG Bunkering Project, Western Australia

On 30 July 2020, the NAIF Board made an Investment Decision to offer a loan of up to $129m to support the development of a LNG Bunkering project in Western Australia.

Name of project proponent:

Commercial In-Confidence

Nature of investment/project:

LNG Bunkering Project

Location:

Western Australia

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

Up to $129m

BSE Maritime Solutions, Queensland

On 15 October 2020, the NAIF Board made an Investment Decision to offer a loan of up to $32m to support the development of a Shiplift Facility in Cairns, Queensland.

Name of project proponent:

BSE Maritime Solutions

Nature of investment/project:

Development of a Shiplift Facility

Location:

Cairns, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

Up to $32m

Neoen SAS, Queensland

On 9 December 2020, the NAIF Board made an Investment Decision to offer a loan of up to $280m to Neoen SAS for the Kaban Green Power Hub in Queensland.

Name of project proponent:

Neoen SAS

Nature of investment/project:

Kaban Green Power Hub

Location:

Kaban, Queensland

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

Up to $280m

Agripower Australia Limited, Queensland

On 9 December 2020, the NAIF Board also made an Investment Decision to offer a Financing Mechanism, being a loan of up to $71m to Agripower Australia Limited in relation to silicon fertiliser mining facilities in Conjuboy and a processing facility in Charters Towers in accordance with an approved capital works program. The project is located at Charters Towers & Conjuboy, Queensland.

Details of the decision are:

Name of project proponent:

Agripower Australia Limited

Nature of investment/project:

The development of silicon fertiliser mining facilities and a processing facility in accordance with an approved capital works program.

Location:

Conjuboy and Charters Towers, Queensland.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $71m

Arnhem Land Progress Aboriginal Corporation, Northern Territory

On 17 June 2021, the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $13.5m in relation to the development of a cold storage warehouse and logistics facility, located in Alice Springs, Northern Territory.

Name of project proponent:

Arnhem Land Progress Aboriginal Corporation.

Nature of investment/project:

The redevelopment of an existing food storage and warehouse facility owned by ALPA. The redevelopment involves the construction of a state-of-the-art ammonia-based refrigeration facility and enhancements to the existing ambient warehouse.

Location:

Alice Springs, Northern Territory.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $13.5m

Australian Potash Limited, Western Australia

On 24 February 2021 the NAIF Board made an Investment Decision to offer a Financing Mechanism, being a loan of up to $140m, in relation to the development of the Lake Wells Sulphate of Potash project. The project is located 160km north-east of Laverton, in the Eastern Goldfields region of WA.

Details of the decision are:

Name of project proponent:

Australian Potash Limited

Nature of investment/project:

The development of the Lake Wells Sulphate of Potash project.

Location:

Eastern Goldfields region of WA

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $140m

Mackay Land Pty Ltd, Queensland

On 14 December 2021, the NAIF Board made an Investment Decision to offer a loan of up to $44m to Mackay Land Pty Ltd for the purpose of expanding existing farming operations at its Gold Tyne property in Lakeland, Queensland, subject to the fulfilment of certain conditions.

Name of project proponent:

Mackay Land Pty Ltd.

Nature of investment/project:

Gold Tyne Capital Works.

Location:

Lakeland, Queensland.

Type of Financing Mechanism:

loan

Amount of Financing Mechanism:

up to $44m.


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