Deadline Date: January 16, 2026
The Green Iron Investment Fund – National Development Stream is an open competitive grant program by the Australian Government to accelerate the establishment of commercial-scale green iron production across the nation.
Focus Areas/Objectives/Priorities/Themes: The objectives of the program 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, and achieve community benefits, in line with the Future Made in Australia Community Benefit Principles. The intended outcomes of the program 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 – and contribute to emissions reduction in the steel value chain, in line with global and domestic decarbonisation ambitions. The Future Made in Australia Community Benefit Principles are to promote safe and secure jobs that are well paid and have good conditions, develop more skilled and inclusive workforces, engage collaboratively with and achieve positive outcomes for local communities, 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, and demonstrate transparency and compliance in relation to the management of tax affairs including benefits received under Future Made in Australia supports.
The Green Iron Investment Fund, administered by the Department of Industry, Science and Resources, was announced by the Prime Minister in February 2025 as part of a $1 billion national initiative to boost Australia’s role in global green steel production. At least $500 million under the National Development Stream is allocated to support both existing and new facilities that can add value to Australia’s iron ore industry by producing low-emission green iron.
The program aims to bridge the financial gap between traditional and low-emission technologies, helping early movers attract private investment while reducing risks. Eligible applicants include Australian-incorporated entities, companies limited by guarantee, and incorporated trustees on behalf of trusts. The program will fund up to 25% of eligible project costs, with a minimum 75% to be covered by applicants or other private sources. Projects must reach commercial operation by March 2031.
Eligible activities include the purchase, construction, and commissioning of plant and equipment for green iron production, site development, technology implementation, and the design and engineering of capital works. Projects may also include offtake market development and regional employment or skills initiatives aligned with community benefit principles.
Applications will be assessed through two panels: a Technical Assessment Panel focusing on technological viability and decarbonisation potential, and a Commercial Viability Assessment Panel evaluating alignment with program objectives, financial sustainability, and community benefit delivery. Only applications meeting a minimum technical threshold will proceed to full evaluation.
Successful applicants will enter into a legally binding grant agreement with the Commonwealth and must comply with Australian laws and industry standards, including environmental and workplace safety requirements. Projects exceeding $20 million may also need to develop an Australian Industry Participation plan to ensure local suppliers benefit.
By supporting early movers in green iron, this initiative strengthens Australia’s industrial base, drives decarbonisation in steelmaking, and promotes economic and employment opportunities aligned with the Future Made in Australia framework.
For more information, visit DISR.
