Premier and Minister for the Olympic and Paralympic Video games
The Honourable Annastacia Palaszczuk
- $100 million Queensland Important Minerals and Battery Know-how Fund opened at this time
- The fund will assist meet rising demand for clear vitality applied sciences
- Help for Queensland trade to entry nationwide and international provide chains in steel refining, mineral processing, battery manufacturing and superior supplies
Purposes at the moment are open for the Palaszczuk Authorities’s latest fund accelerating the expansion of the state’s rising essential minerals, battery expertise and superior materials alternatives.
Treasurer and Minister for Commerce and Funding Cameron Dick introduced the opening of the fund at at this time’s Important Minerals Investor Discussion board – a companion occasion to this week’s 26th World Mining Congress with greater than 3,000 delegates.
The Queensland Important Minerals and Battery Know-how Fund is geared toward enhancing the extraction and processing of essential minerals.
It’ll additionally speed up the event of battery applied sciences and the manufacturing of precursor or superior supplies to assist Queensland jobs and financial progress.
Quotes attributable to Premier Annastacia Palaszczuk:
“Queensland has a transparent imaginative and prescient to maximise the momentous alternatives that include a clear vitality future, as outlined within the Queensland Vitality and Jobs Plan.
“Our state’s considerable reserves of vanadium, cobalt, copper and uncommon earth components are the important thing to accelerating the event of unpolluted vitality applied sciences like photo voltaic panels, battery storage and electrical autos.
“Extra than simply digging these out of the bottom, Queensland is within the enviable place to develop our capabilities proper by the provision chain from pit to product as international demand skyrockets.
“Within the electrical automobile battery market alone, annual international funding is predicted to surge in extra of $550 billion by 2030 with a view to meet emissions targets.
“This fund will be sure that it’s cobalt and nickel – extracted and processed in Queensland by Queenslanders – that’s powering the clear vitality future forward.”
Quotes attributable to the Treasurer and Minister for Commerce and Funding Cameron Dick:
“Rising international demand creates a major alternative for Queensland’s essential minerals, battery applied sciences and superior supplies.
“Nevertheless, we should be sure that native initiatives are production-ready, commercially viable and globally aggressive.
“The Queensland Important Minerals and Battery Know-how Fund’s main purpose is to place our state on the entrance of the queue with the capability and functionality to satisfy international demand for decarbonisation.
“It helps the implementation of our not too long ago launched New-Trade Growth Technique and Queensland’s Battery Trade Technique that’s underneath improvement.
“Internet hosting at this time’s Important Minerals Investor Discussion board is a superb alternative to have interaction immediately with trade, academia, the Federal Authorities and the funding neighborhood to discover the traits, challenges and speedy and future funding alternatives.
“Our authorities is already creating the Queensland Assets Frequent Person Facility and is supporting Vecco with Australia’s first commercial-scale vanadium circulation battery electrolyte manufacturing facility, each situated in Townsville.
“The Queensland Important Minerals and Battery Know-how Fund builds on these commitments and attracts on our energy in essential minerals coupled with native innovation and analysis functionality to cement Queensland’s place within the international clear vitality expertise provide chain.”
Quotes attributable to Assets Minister Scott Stewart:
“There’s an abundance of essential minerals in Queensland and within the North West Minerals Province that the world is demanding because it decarbonises.
“There’s the potential for 1000’s of excellent jobs as extra essential mineral initiatives get off the bottom which is why this Fund is necessary.”
“The Queensland Assets Frequent Person Facility in Townsville is one other means we’re backing the assets trade as initially it’s going to assist assets firms show up their product and develop new alternatives for vanadium mining.”
Managed by Queensland Funding Company (QIC), the $100 million Queensland Important Minerals and Battery Know-how Fund can have two funding streams:
- QIC will handle the fund and oversee enterprise and progress capital investments
- initiatives searching for grant help will probably be referred to Queensland Treasury.
Eligible firms should be capable to display alignment with fund goals and Queensland Authorities coverage goals.
Help will probably be supplied to new initiatives with demonstrated advantages to Queensland.
This may increasingly embody constructing trade functionality, supporting personal sector infrastructure improvement, the creation of Queensland jobs, and upskilling and coaching alternatives.
For extra info or to use go to qic.com/qcmbtf.
Media contact – Campbell Gellie 0433987744