Tasmania Announces A$20 Million Regional Recovery Fund From Tungsten-Mine Windfall

Tasmania's government has announced plans for an A$20 million Recovery Fund for Regional Resilience, financed from returns on its investment in King Island's tungsten mine. Premier Jeremy Rockliff said the fund would support communities facing industry changes, employer closures and workforce disruption. Proposed uses include diversifying local economies, supporting workforce transitions and attracting new investment. The government says other proceeds from the investment would go toward reducing debt. The Dolphin mine is near Grassy on King Island's southeast coast, and the fund remains a planned initiative.