The Queensland Government has matched an $8million Federal Government grant to progress the Townsville Energy Chemicals Hub (TECH).
The QPM project aims to supply nickel and cobalt materials to electric vehicle and battery manufacturers such as General Motors and LG, and steel makers POSCO.
Proponent Queensland Pacific Metals on Thursday announced it had been awarded an $8 million grant from the Federal Government under the International Partnerships in Critical Minerals program.
Resources and Critical Minerals Minister Scott Stewart said the project was worth the attention.
“Everyone in Queensland remembers when Clive Palmer shutdown nickel refining in Townsville, dealing the people of the north a heavy blow,” Resources and Critical Minerals Minister Scott Stewart said.
“Our government is proud to work with the Albanese government to try and reverse that loss.
“Critical minerals are the future for Townsville and North Queensland, and this investment shows we are taking action to deliver.
“Through the Queensland Resources Industry Development Plan, we are fulfilling our goal to grow and diversify the industry.
“I’ve fought hard to support this project and I’m pleased to see both the Albanese and Miles governments delivering.”
The company said it had been working with government and key stakeholders to secure independent funding to advance the TECH project.
‘QPM has made significant strides in de-risking the TECH project. The final commercial validation stage involves test work, piloting and engineering to produce a high-quality Bankable Feasibility Study (BFS),’ it said.