Queensland leads the charge with Australia’s first vanadium battery supply chain
The Queensland Government is establishing Australia’s first vanadium battery supply chain, delivering a fresh start for North Queensland.
The government is investing $10m in Vecco Group’s mine and commercial-scale electrolyte facility. Using vanadium sourced from Julia Creek, the Townsville facility will anchor a pit-to-port product manufacturing chain, supplying vanadium flow batteries for global energy storage markets.
The end-to-end vanadium battery supply chain will help reinforce Queensland’s leadership in critical minerals and advanced manufacturing.
Queensland Finance, Trade, Employment and Training Minister Ros Bates says the investment demonstrates the government’s determination to turn the state’s mineral abundance into jobs and export opportunities.
“After a decade of decline, in the last ten months, we’ve got on with the job of delivering greater opportunities for Queensland businesses on the world stage,” she said.
“Queensland has the resources the world needs, and the [Queensland Government] is making sure those resources deliver jobs, trade and prosperity for our regions.
“This project proves our opportunity is bigger than just the raw minerals in the ground, Vecco’s partnership with Idemitsu shows global confidence in North Queensland to deliver an end-to-end vanadium battery supply chain.”
Queensland Natural Resources and Mines Minister Dale Last says confidence is now returning to Queensland’s resources sector.
“The [Queensland Government] is delivering practical measures to unlock the full potential of our resources and manufacturing sectors, because we’re serious about growing the industries that underpin Queensland’s prosperity,” he said.
“This investment forms part of our strategy to link international investors with Queensland innovation, by backing projects that leverage our strengths and create more jobs for our regions.
“It also leverages the ongoing work of the Resources Cabinet Committee to deliver stability and investment-friendly policies for the sector so that projects can get off the ground faster.”
Vecco Group managing director Tom Northcott says the project will position Queensland as a leader in meeting the world’s rapidly growing energy storage demands.
“With the support of our partners, Vecco is uniquely positioned to integrate mining and manufacturing, leveraging our expertise in critical minerals to strengthen the downstream supply chain in Queensland,” he said.
“The transformative Vecco Critical Minerals Project will create hundreds of regional jobs, and we thank the Queensland Government for their confidence and support.”