Manufacturing, Manufacturing News, Queensland, Raw materials & composites

Quinbrook sponsors development of QLD ‘Green Iron’ Project

Quinbrook, a specialist global investment manager focused on energy transition infrastructure has commenced the development phase of the Green Iron Project in Gladstone, Queensland.

Quinbrook has partnered with Central Queensland Metals (CQM) which holds the exploration permits for what is the largest known magnetite deposit in Queensland. 

Managing Director and Regional Leader of Quinbrook Infrastructure Partners, Brian Restall said this is an ambitious project that addresses “the hopes for Australia’s manufacturing renaissance.”

“Whilst in its early stages, we believe the project has the potential to create a significant new infrastructure investment and export opportunity in the same way that Queensland’s coal seam gas resources have already done,” said Restall. 

Quinbrook has built a reputation for devising differentiated investment strategies that create the new infrastructure assets needed to progress the energy transition,” said Restall.

Quinbrook will sponsor the detailed evaluation and testing of the ore deposit to prove its quality and scale, utilising metallurgical expertise.

The Eulogie resource is a vanadiferous titanomagnetite ore deposit located 70km west of Gladstone, estimated to contain 465 million tonnes of ore with attractive characteristics for low-cost extraction. 

The deposit is anticipated to support a resource more than double this amount after further exploration work is undertaken by CQM supported by Quinbrook. 

Quinbrook is developing renewable energy and storage projects in central Queensland dedicated to powering multiple new energy-intensive manufacturing projects.

The Gladstone Green Iron project represents a capital investment of up to $3.5 billion and incorporates the exploration, development, mining and concentration of the magnetite ore at Eulogie. 

The transport of concentrated ore to the Gladstone State Development Zone and potential conversion to green iron using hydrogen produced by the Central Queensland Hydrogen Project (CQ-H2). 

There are multiple export opportunities for both the ore concentrate and green iron using the existing rail infrastructure through to the Gladstone Port. 

Quinbrook is engaged in joint venture discussions with Stanwell Corporation on both hydrogen supply and the delivery of firm renewable power to support CQ-H2.

The development phase is expected to take several years to complete with planning approvals already underway. 

Quinbrook has received several expressions of interest from global industry players regarding the project and expects to select an industry partner.

This partner would take over the design, construction and operation of the green iron elements of the project once development work is further progressed and approvals secured.

Gladstone has all the fundamentals needed for a world-class green iron project with many compelling cost advantages.

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