The State Government has declared prescribed project status over Graphinex’s Esmeralda graphite project, an integrated mine-to-refinery operation representing a potential investment of more than $1.3 billion.
The project involves developing an open-pit graphite mine and processing facility about 70km south of Croydon and a plant in Townsville to produce battery-grade anode materials.
The prescribed project declaration follows the Export-Import Bank of the United States (EXIM) issuing a Letter of Interest for $1.3 billion—the largest single financial commitment under the US–Australia Critical Minerals Framework.
Natural Resources and Mines Minister Dale Last said the decision reflected the Crisafulli Government’s commitment to accelerating the next generation of regional projects.
“This declaration sends a clear message – under the Crisafulli Government Queensland is open for business and we’re backing projects that create long-term jobs and deliver investment into regional Queensland,” Mr Last said.
“This is another example of the Crisafulli Government’s Resources Cabinet Committee in action, cutting red tape, driving faster approvals and delivering certainty to investors so they can get on creating local jobs.
“But we’re not sitting on our hands – we’re out meeting overseas investors and helping project proponents to lock in the investment they need to get going.”
Graphinex managing director Art Malone said the declaration of prescribed project status would continue to accelerate the project’s path to market.
“This prescribed project declaration is a major milestone for Graphinex. It will ensure our approvals are not unnecessarily delayed and confirms the Crisafulli Government’s recognition of the project’s strategic importance to the State,” Mr Malone said.
Subject to approvals, Graphinex is targeting a final investment decision and commencement of construction in late 2026.
The Coordinator-General has issued the project’s terms of reference for the preparation of the environmental impact statement (EIS) and Graphinex is now preparing the EIS.