The Cook government has asked the Commonwealth to co-fund a multi-user critical minerals processing hub as it braces for lower revenue from iron ore royalties and the shutdown of refineries in Western Australia’s industrial heartland.

WA is eying land at Kwinana, where Alcoa is closing its alumina refinery and a BHP nickel refinery is hanging by a thread, for a $200 million critical mineral hub it wants the Albanese government to co-fund.