Queensland’s renewable energy sector and manufacturing industry are set to receive a boost with the Vecco Critical Minerals Project moving closer to fruition after gaining coordinated project status.
This declaration from Queensland’s Coordinator-General now clears the path for multiple environmental approvals, the government said in a media statement.
The $798 million initiative involves constructing an open-cut mine approximately 70km north of Julia Creek, along with a critical minerals processing plant.
This plant will supply minerals for the local manufacture of rechargeable batteries in Townsville, essential for grid-scale energy storage.
Minister for State Development and Infrastructure Grace Grace emphasised Queensland’s renewable energy leadership: “Queensland’s status as a world leader in renewable energy is built on our abundant natural resources and skilled workforce.|
She continued, “We can further enhance this status through an exciting proposal with the potential to expand the North West’s critical minerals industry and generate local manufacturing jobs.”
With demand for battery storage expected to increase tenfold by 2030, the project is a significant opportunity for Queensland to lead in energy storage technologies.
Grace added, “This is a once-in-a-lifetime opportunity for Queensland to become a driving force in the development, manufacture, and deployment of new energy storage technologies.”
“Our regions are uniquely set up to support the shift to new, high-value industries including battery development, which will shape Queensland’s economic future.”
Queensland Coordinator-General Gerard Coggan outlined the importance of progressing such projects responsibly: “It is important we facilitate and responsibly progress projects that help transition Queensland’s economy and provide pathways to realise the potential for new industry and new jobs creation as we move towards the State’s low emissions targets.”
Coggan underscored community involvement in the process: “The community and stakeholders should have a say in evaluating the economic, social, and environmental effects. The coordinated project declaration allows this to happen in a consistent and considered way.”
Vecco Group Managing Director Thomas Northcott highlighted the growing demand for vanadium flow batteries: “Demand for vanadium flow batteries is rapidly increasing to meet the world’s energy storage demands.”
“Australia’s demand for medium and deep duration storage by 2045 has been estimated at over 100GWh by the market operator. Vanadium flow batteries made right here in Townsville from Queensland’s minerals can help meet this need while creating good jobs in regional areas,” Northcott noted.
The project is expected to create up to 300 jobs during construction and up to 274 jobs during the mine’s operational phase.
Construction is anticipated to start in 2025, with operations beginning in late 2026.
