Queensland Pacific Metals (QPM) has purchased the Moranbah gas project to supply gas to its Townsville battery metals refinery.
The facility is now one step closer to refining ores to produce critical minerals for use in new-technology batteries.
Part of the Townsville Energy Chemicals Hub (TECH) project at Lansdown Eco-Industrial Precinct, the refinery was announced as a Significant Investment Project by the Queensland Premier Annastacia Palaszczuk.
This means that approvals for the project will be fast-tracked to ensure completion.
“I don’t just want to see critical minerals mined in Queensland with renewable energy,” Palaszszuk said. “I want to see those minerals processed in North Queensland.
“The Lansdown Eco-Industrial Precinct has the potential to support 5,000 jobs during construction and an estimated 1,600 direct ongoing jobs.
“Already six companies have signed on to be part of the precinct including to progress renewable hydrogen and advanced battery manufacturing.”
The Moranbah gas project currently collects gas from five coal mines but QPM Metals said it has the ability to connect to more in the future.
“Vertical integration of our energy supply for the TECH project is a significant de-risking event that cannot be underestimated,” QPM managing director and chief executive officer Dr Stephen Grocott said.
“This transaction is yet another commercial arrangement that the management team of QPM has been able to orchestrate to bring us one step closer to construction of the TECH project and to deliver value for shareholders.”
Minister for Resources Scott Stewart said the it was exciting to see QPM take on the project.
“Gas continues to be a key fuel for manufacturing facilities like the Townsville Energy Chemicals Hub,” Stewart said.
“The TECH project will create about 800 construction jobs, and during its operational phase there are expected to be an estimated 1700 jobs.
“Townsville is continuing to power ahead through projects like this along with the Queensland Government’s $5 billion investment in Copperstring 2032.”
