5 ASX Mining Shares Backed by Australian Government Projects

ASX mining shares, including Core Lithium Ltd (ASX: CXO) and Iluka Resources .

Limited (ASX: ILU), feature in the Australian Federal Government's Critical Minerals Prospectus, promoting 52 investment-ready projects.

The prospectus, aligned with the Critical Minerals Strategy 2023-2030, aims to position Australia as a major global producer of raw and processed critical minerals.

The government seeks local and international investment to support the development of new mines and industries for renewable energy.

Notable ASX mining shares in the prospectus include Core Lithium, with its BP33 underground mine undergoing a feasibility study.

Liontown Resources Ltd (ASX: LTR) is highlighted for its Kathleen Valley lithium project.

 Set to deliver material compliant with the US Inflation Reduction Act.

Iluka Resources is seeking funding to build Australia's first fully integrated rare earths refinery.

 The Eneabba Refinery, scheduled for commissioning in late 2025.

Neometals Ltd (ASX: NMT) owns a significant titanium and vanadium deposit, open to discussions on project equity, joint ventures, and financing.

Renascor Resources Ltd (ASX: RNU) seeks backing for its vertically integrated graphite operation in South Australia.

The government commits $4 billion to critical minerals supply chain businesses through the Critical Minerals Facility.

The updated Critical Minerals List includes fluorine, molybdenum, arsenic, selenium, and tellurium. 

While a new Strategic Minerals List comprises copper, nickel, aluminium, phosphorous, tin, and zinc.