A proposed $470 million vanadium mine in North West Queensland has this week been declared a prescribed project. The project will include facilities for processing the vanadium for use in batteries, chemical applications and in high-strength steel production.
“The proponent will mine and process vanadium for use in the growth market of vanadium batteries and new technologies within the renewable energy sector, and in high-strength steel production,” Queensland’s Minister for State Development, Manufacturing, Infrastructure and Planning, Cameron Dick, said.
“Initially, 10,000 tonnes per annum will be mined at the site, which is in the North West Minerals Provence, with the workforce expected to be largely sourced locally and housed in the region.
“In addition to the mine, the project includes a processing plant, rail spur line into the mine site, workforce accommodation village and associated infrastructure including an off-site water supply dam and 20km pipeline to the project site.”
The declaration as a prescribed project helps to streamline approvals and fast-track delivery of the project. The coordinator-general, if necessary, will be able to intervene in the approvals process to ensure timely decision making for the project.
The mine will be operated by Multicom Resources, a Queensland based exploration and mining company, which been working on the project since 2014 when exploration activities revealed significant amounts of vanadium within the sedimentary rocks in the area.
“We are very grateful for the continued support provided by the Queensland Government to the Saint Elmo Vanadium Project,” Multicom Resources Limited CEO, Shaun McCarthy, said
“Gaining the required permits and approvals in a timely and efficient manner is a critical aspect of our development plans.”
Construction could commence in late 2020, with the first vanadium exports proposed to commence in 2021. The project has an anticipated 30-year life span
The project is consistent with the Queensland government’s North West Queensland Economic Diversification Strategy, which provides investment in developing strong supply chains and creating sustainable communities, according to Dick.
“The Saint Elmo project will contribute to long-term sustainable growth in North West Queensland,” Dick said.