Queensland Pacific Metals is a step closer to opening its battery metals refinery in Townsville after securing its gas supply by conditionally agreeing to purchase the Moranbah Gas Project.
It comes after Queensland’s Premier declared the battery metals refinery a Significant Investment Project, and the Lansdown Eco Industrial Precinct a prescribed project.
The Moranbah Gas Project already collects gas from five coal mines in the Bowen Basin and Queensland Pacific Metals says it has the ability to connect to other mines in the future.
Minster for Resources Scott Stewart said: “It’s exciting to see Queensland Pacific Metals take on this project which will help progress its TECH facility in Townsville.
“Gas continues to be a key fuel for manufacturing facilities like the Townsville Energy Chemicals Hub.
“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 Palaszczuk Government’s $5-billion investment in Copperstring 2032.”
QPM Managing Director and CEO Dr Stephen Grocott said: “Vertical integration of our energy supply for the TECH project is a significant de-risking event that cannot be underestimated.
“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.”