The Queensland government is making $8 million available 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 state.
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.
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).
Queensland Critical Minerals Minister Scott Stewart said: “Everyone in Queensland remembers when Clive Palmer shutdown nickel refining in Townsville, dealing the people of the north a heavy blow.
“Our government is proud to work with the (federal government) to try and reverse that loss.”
Picture: Queensland Pacific Metals/site access road construction