- The Queensland Government will make available up to $8 million to assist Queensland Pacific Metals prepare the Townsville Energy Chemicals Hub ("TECH") project for investment readiness
- The grant will be provided in conjunction with a matched grant from the Albanese Government
The Miles Labor 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 Albanese 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 Queensland Government.
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.
As stated by Resources and Critical Minerals Minister Scott Stewart:
"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 Albanese government to try and reverse that loss.
"Critical minerals are the future for Townsville and North Queensland, and this investment shows we are taking action to deliver.
"Through the Queensland Resources Industry Development Plan, we are fulfilling our goal to grow and diversify the industry.
"I've fought hard to support this project and I'm pleased to see both the Albanese and Miles governments delivering.
"Permanent full time manufacturing jobs will secure the economic future of North Queensland and only Labor is stepping up to deliver.
"David Crisafulli and the LNP will cut industry incentives, as part of his risky plan of unfunded commitments, reducing revenue and lowering debt."
