The Queensland Government has opened the applications for the new Queensland Critical Minerals and Battery Technology.
Treasurer and Minister for Trade and Investment Cameron Dick launched the fund at the Critical Minerals Investor Forum — a companion event to the 26th World Mining Congress.
“Growing global demand creates a significant opportunity for Queensland’s critical minerals, battery technologies and advanced materials. However, we must ensure that local projects are production-ready, commercially viable and globally competitive,” Treasurer Dick said.
According to Treasurer Dick, the fund’s primary purpose is to place Queensland at the front of the line in terms of capacity and capability to fulfil global demand for decarbonisation.
“It supports the implementation of our recently released New-Industry Development Strategy and Queensland’s Battery Industry Strategy that is under development,” the Treasurer added.
Treasurer Dick said hosting the Critical Minerals Investor Forum is an excellent chance to interact directly with industry, academia, the Australian Government, and the investing community to discuss trends, challenges, and current and future investment prospects.
“Our government is already developing the Queensland Resources Common User Facility and is supporting Vecco with Australia’s first commercial-scale vanadium flow battery electrolyte manufacturing facility, both located in Townsville,” he stated.
The Queensland Critical Minerals and Battery Technology Fund aims to improve critical mineral extraction and processing.
It will also hasten the development of battery technologies and the manufacture of precursor or advanced materials, promoting Queensland jobs and economic growth.
“Queensland has a clear vision to maximise the momentous opportunities that come with a clean energy future, as outlined in the Queensland Energy and Jobs Plan,” Premier Annastacia Palaszczuk said.
“This fund will ensure that it’s cobalt and nickel – extracted and processed in Queensland by Queenslanders – that is powering the clean energy future ahead,” Premier Palaszczuk noted.
Resources Minister Scott Stewart said Queensland and the North West Minerals Province have an abundance of critical minerals that the world requires as it decarbonises. Minister Stewart stated that as additional major mining projects get underway, there is the potential for thousands of decent jobs, which is why the fund is crucial.
“The Queensland Resources Common User Facility in Townsville is another way we are backing the resources industry as initially it will help resources companies prove up their product and develop new opportunities for vanadium mining,” Minister Stewart added.
