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Grants to support the growth of Australia's green iron industry
Green Iron Investment Fund - National Development Stream
Opening date: Tuesday 28 October 2025 10:00am AEDT Tue 28 Oct 2025 10:00am AEDT
Closing date: Friday 16 January 2026 5:00pm AEDT Fri 16 Jan 2026 5:00pm AEDT
What do you get?
The Green Iron Investment Fund provides at least $500 million to support early movers with the upfront costs of capital works.Who is this for?
Applicants across Australia with existing facilities and greenfield projects.
About the program
The Green Iron Investment Fund - National Development Stream provides at least $500 million in funding to applicants around Australia. The grant funding will be accessible for both existing facilities and greenfield projects that can supercharge Australia’s world-leading iron ore industry by adding more value right here.
The objectives of the grant opportunity are to:
- de-risk early mover capital investments in Australian commercial scale green iron production capability
- crowd-in private investment for a strong green iron industry
- create economic benefits, jobs and spillovers associated with a strong green iron industry
- achieve community benefits, in line with the Future Made in Australia Community Benefit Principles.
The intended outcomes of the grant opportunity are to:
- transform Australia’s national, regional and/or local economies by establishing or transitioning commercial green iron production capability - including up and down stream industrial capabilities
- contribute to emissions reduction in the steel value chain, in line with global and domestic decarbonisation ambitions.
Learn more about the Green Iron Investment Fund policy that supports the program.
Find out more about Australia's green metals sector.
Check if you can apply
You can apply if you meet the eligibility criteria. The eligibility criteria are a set of rules that describe who we can consider for this grant. You can apply if you:
- are an eligible entity
- have an eligible project
- have eligible expenditure.
The rules are in the grant opportunity guidelines.
You can apply if you:
- have an Australian business number (ABN)
- are registered for the Goods and Services Tax (GST)
And are one of the following entities:
- an entity, incorporated in Australia
- a company limited by guarantee
- an incorporated trustee on behalf of a trust (where your trading activities form a sufficiently significant proportion of the corporation’s overall activities as to merit it being described as a trading corporation; or are a substantial and not merely peripheral activity of the corporation).
You can’t apply if you are:
- an organisation, or your project partner is an organisation, included on the National Redress Scheme’s list of Institutions that have not joined or signified their intent to join the Scheme
- an employer of 100 or more employees that has not complied with the Workplace Gender Equality Act (2012)
- income tax exempt
- an individual
- a Regional Development Australia Committee
- an unincorporated association
- any organisation not included in section 4.1 of the grant opportunity guidelines
- a trust (however, an incorporated trustee may apply on behalf of a trust)
- a Commonwealth, state, territory or local government body (including government business enterprises)
- a non-corporate Commonwealth entity.
Partner with other organisations
You can partner with one or more other organisations, but the lead applicant must meet all the eligibility criteria. You must decide who the lead organisation is.
The lead organisation must fill out the application form.
If we give your group the grant, the lead organisation:
- signs the grant agreement
- is responsible for making sure your group follows the rules in the grant agreement.
You must complete your project by 31 March 2031.
Your project must be:
- located in Australia
- aimed at establishing a commercial scale green iron facility
- focussed on capital works.
At least $500 million is available for applicants around Australia.
The grant funding can be used on costs that:
- are incurred by you within the project period
- are a direct cost of the project
- are incurred by you to undertake required project audit activities
- meet the eligible expenditure guidelines.
How to apply
Check if you’re ready to apply for a grant
Finding a suitable grant opportunity is just the start of the process to get funding. The application process can take time and effort. Understanding the entire process will help you be grant ready and may improve your chances of getting funding.
Use our checklist to find out what it takes to apply for a grant.
When you're ready to apply
Apply using our online portal:
- Create or log into your portal account.
- Follow the instructions to complete your application.
- Submit your application before the close date.
Make sure you include enough detail and supporting evidence in your application to help us decide whether to award you the grant.
Don’t submit the application until it’s complete. You can’t correct a mistake.
First we check that you meet the eligibility criteria. Then we assess your application against the assessment criteria.
The assessment criteria are a set of rules that describe how we must assess each application.
We give each criterion a certain number of points.
We’ll decide whether to award you the grant based on the total number of points we give your application.
- Assessment criterion 1: Capability of the project to meet decarbonisation objectives and technological viability (20 points)
- Assessment criterion 2: Project alignment with program objectives and benefits of the project (25 points)
- Assessment criterion 3: The commercial and financial viability of the project (25 points)
- Assessment criterion 4: Capacity, capability and resources to deliver and operate the project (20 points)
- Assessment criterion 5: Impact of the grant funding on your project (10 points).
The amount of detail and supporting evidence you provide should be relative to the project size, complexity and grant amount requested.
The Cabinet decides which grants to approve, taking into account the recommendations and advice of the committee and the availability of grants funds.
Contact
Need help?
Let us answer your question over the phone, email or live chat.
- Phone:
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Open Hours:
Monday to Friday, 8am to 8pm across Australia
- Website:
Further Guidance
What is a community benefits sharing plan and do I need to provide one with my application?
A proposed community benefits sharing plan is required as part of your application for funding to the Green Iron Investment Fund’s National Development Stream, as per the grant opportunity guidelines.
Your proposed community benefits sharing plan must demonstrate how your project is aligned with the Future Made in Australia Act 2024 (FMA Act) Community Benefit Principles (CBPs), including your project’s proposed commitments to each of the FMA CBPs.
We have not specified the form or structure a community benefits sharing plan must take. Applicants can take an innovative approach to demonstrate how the CBPs can be applied to their project.
The CBPs are outlined below and at Section 2.1 of the grant opportunity guidelines.
What are the FMA Act CBPs and do all of them need to be addressed in my application?
The FMA Act establishes CBPs to ensure public investment and the private investment it attracts flows to communities in ways that benefit local workers and businesses.
All CBPs must be addressed in your proposed community benefits sharing plan, which you must provide as an attachment to your application. The CBPs, as outlined at section 2.1 in the grant opportunity guidelines, are:
- 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 in 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 under Future Made in Australia supports.
Your commitments to the CBPs in your proposed community benefits sharing plan do not supersede or replace any relevant jurisdictional regulations, policies or other requirements.
When would I need to prepare a Future Made in Australia (FMA) Plan?
If your application is successful, you will be required to develop a Future Made in Australia (FMA) Plan as a milestone in your grant agreement, as well as in subsequent reporting. Timing for the development of a FMA Plan will be determined in the contract negotiation stage.
An FMA Plan is not required as part of your application.
What is the difference between a community benefit sharing plan and a FMA Plan?
The conditions for the FMA Plan will be determined at the contract negotiation stage. If you are successful, we will advise you of any specific conditions attached to the grant, including conditions for a FMA Plan.
Your proposed community benefits sharing plan should outline project commitments that provide benefit to the local community in accordance with the FMA CBPs. The plan will contribute to your Future Made in Australia Plan. The development of your Future Made in Australia Plan will be set as a milestone in your grant agreement.
We will advise you of the outcome of your application in writing.
How will the CBPs and my project’s proposed community benefits sharing plan be assessed?
The Technical Assessment Panel will assess against assessment criterion 1 only, which does not include the CBPs. Only applications that score at least 50% in assessment criterion 1 will progress to the Commercial Viability Assessment Panel.
The Commercial Viability Assessment Panel will assess your application against assessment criteria 2 to 5 including all attached evidence. Your proposed community benefits sharing plan forms part of your attached evidence for criterion 2.
The panels may seek additional information about you or your application at any time and from any source.
Would I need to report on the progress of how my project is achieving its commitments to the CBPs?
You will be expected to regularly report on your FMA plan once in place. You must submit reports in line with the grant agreement. We may request for you to provide detailed progress and data on achieving CBP outcomes.
Will there be a public guidance or consultation on the FMA CBPs and FMA Plans?
Public guidance and consultation on the CBPs and FMA plans is expected to occur soon.
The information presented here and in the grant opportunity guidelines is for the Green Iron Investment Fund and does not pre-empt the development or interpretation of FMA CBPs or the FMA Act 2024.
To register your interest in contributing to consultation on the CBPs and FMA plans, please contact us at business.gov.au.
Will any future rules or other legislative requirements under the Future Made in Australia Act 2024 apply to my project if it is successful?
The application of FMA CBPs to the Green Iron Investment Fund and your proposed community benefits sharing plan does not supersede or replace any relevant jurisdictional regulations, policies or other requirements.
If your project is successful, we will advise you of any specific conditions attached to the grant. We will identify these in the offer of grant funding, including any applicable section 11 rules under the FMA Act that may be made subsequently to grant opportunity guidelines and this guidance information being published.