The Queensland Government is making $8 million available for Queensland Pacific Metals (QPM) to prepare the Townsville Energy Chemicals Hub (TECH) project for investment readiness.
Queensland Treasury will work to provide the grant to company Queensland Pacific Metals in conjunction with the Federal Government’s recently announced commitment of $8 million.
The TECH Project aims to deliver a modern and sustainable battery materials refinery for Townsville and has secured prescribed project status from the Queensland Government.
Resources and Critical Minerals Minister Scott Stewart said critical minerals are the future for Townsville and North Queensland.
“…This investment shows we are taking action to deliver,” said Stewart.
“Permanent full time manufacturing jobs will secure the economic future of North Queensland…
“Through the Queensland Resources Industry Development Plan, we are fulfilling our goal to grow and diversify the industry.”
Queensland Pacific Metal’s $2 billion project aims to supply nickel and cobalt materials to electric vehicle and battery manufacturers such as General Motors and LG, and steel makers POSCO.
