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Labor backs northern Australia fund as $490m potash decision looms

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The Albanese government says it will continue to tolerate risk-taking by the taxpayer-funded Northern Australia Infrastructure Facility as it weighs whether to pump another $490 million into the struggling Australian potash sector.

Recovery of more than $83 million of NAIF loans is in doubt after potash aspirant Kalium Lakes last week became the second domestic potash aspirant to go into receivership without repaying tens of millions of taxpayer loans.

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Jacob Greber writes about politics, economics and business from Canberra. He has been a Washington correspondent and economics correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com
Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com

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    Original URL: https://www.afr.com/politics/federal/labor-backs-northern-australia-fund-as-490m-potash-decision-looms-20230808-p5duq6