Queensland Pacific Metals (QPM) is one step closer to launching its battery metals refinery, the TECH Project, after conditionally agreeing to purchase the Moranbah Gas Project.
It comes after Premier Annastacia Palaszczuk announced the battery metals refinery as a Significant Investment Project and the Lansdown Eco Industrial Precinct as a prescribed project.
The Moranbah Gas Project already collects gas from five coal mines in the Bowen Basin, and QPM claims that it will be able to connect to additional mines in the future.
“Vertical integration of our energy supply for the TECH project is a significant de-risking event that cannot be underestimated,” QPM Managing Director and CEO Dr Stephen Grocott said.
According to Dr Grocott, the deal is just another commercial arrangement orchestrated by Queensland Pacific Metals’ management team to bring the company a step closer to completing the TECH Project and delivering value to shareholders.
Minister for Resources Scott Stewart stated that gas remains to be a significant fuel source for manufacturing facilities such as the TECH Project.
“The TECH project will create about 800 construction jobs, and during its operational phase there are expected to be an estimated 1700 jobs. Townsville is continuing to power ahead through projects like this along with the Palaszczuk Government’s $5 billion investment in Copperstring 2032,” Minister Stewart added.
