Supply Chain Resilience Initiative (SCRI) Grant – 6th December 2021
“The Australian Federal Government and AusIndustry entrust Sourci, in partnership with V2Tech, to help bolster Australian supply chains for critically needed raw material. – Project Value $4M+ AUD”
Background
SCRI is a vital part of the Government’s $1.5 billion Modern Manufacturing Strategy. It identifies supply chains impacted by world events, such as the pandemic, the Ukraine/Russian war, or other macro-economic challenges. Matched grants of between $50,000 and $2 million were available for businesses that could help address supply chain vulnerabilities across medicines and agricultural production chemicals, identified as focus sectors in the Government’s Sovereign Manufacturing Capability Plan.
The Challenge
Sourci initially chose to focus on securing Australia’s potash supplies. Potash is a valuable raw material for creating potassium, used worldwide in food, supplement, and medical manufacturing. Belarus and Ukraine currently supply ninety per cent of the world’s potash, and sanctions have plagued existing supply chains.
However, we discovered that Potash in Australia was not yet established enough industry for our advanced technology-based solution. Serendipitously, our project team discovered a critical challenge plaguing the Australian mining sector, particularly in the field of Critical Minerals. There is no true “spot market”, and due to this Australia’s minerals mining companies face struggles in project funding and are subject to easy market manipulation from overseas players.
There’s never been a more desirable time for a safe, multi-party platform to create a transparent global spot market for Critical Minerals. (Our innovative proposal received the maximum $2 million grant, and Sourci has investing a further $2 million of our private enterprise capital to help support the future of Australian mining, agricultural and allied industries).
The Sourci Solution
Minerallink.com is our solution to the challenges experienced in minerals supply chains. Minerallink stands at the forefront of the critical minerals marketplace, serving as a transformative digital platform that bridges a global network of trusted buyers and sellers. By transitioning from outdated, paper-based methodologies to streamlined digital workflows, we introduce a contemporary spot market that diminishes reliance on prolonged contracts and offers transparent pricing based on authentic transactions. But we’ve created more than just a marketplace; Minerallink champions responsible sourcing. With our integrated ESG toolset, we empower users to trade with both integrity and accountability, while providing clear ESG insights for all to view.
See full Original Media Release here.