Silica Resources Australia to double production following $30M investment

Silica Resources Australia (SRA) is set to begin exporting silica sand to customers across Asia later this year. The company plans to more than double its annual production from 360,000 tonnes to over 750,000 tonnes within the next five years.

The expansion is supported by a $30 million investment from the Queensland Critical Minerals Fund, managed by the Queensland Investment Corporation (QIC). This funding has facilitated the acquisition of necessary land, plant, and equipment to mine more than 50 million tonnes of silica. The project is expected to create 180 jobs in regional Far North Queensland, with shipments departing from the Port of Mourilyan.

The Queensland Government has increased the Critical Minerals Fund to $250 million following a recent $100 million budget allocation. This initiative aims to leverage the global silica market, which is projected to exceed a value of $36 billion by 2032. Additionally, SRA has entered a memorandum of understanding with MSF Sugar to investigate using the local cane rail network for product transport.