The Queensland Government is making an $8 million investment to prepare the Townsville Energy Chemicals Hub project for investment readiness, boosting the local manufacturing sector.
Queensland Treasury, in collaboration with the Australian Government’s recent commitment of an additional $8 million, will provide the grant to Queensland Pacific Metals.
The TECH Project aims to establish a modern, sustainable battery materials refinery in Townsville, having already secured prescribed project status from the Queensland Government.
QPM’s $2 billion project is set to supply nickel and cobalt materials to electric vehicle and battery manufacturers like General Motors and LG and steel makers such as POSCO.
“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.”
Stewart emphasised the project’s future potential, adding, “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 am pleased to see both the Albanese and Miles governments delivering.”
Stewart continued, “Permanent full-time manufacturing jobs will secure the economic future of North Queensland and only Labor is stepping up to deliver.”