The development of the $2.1 billion Townsville Energy Chemicals Hub (TECH) project at Lansdown Eco-Industrial Precinct is progressing as Queensland Pacific Metals (QPM) signs a conditional agreement to acquire the Moranbah Gas Project.
The purchase of Moranbah Gas Project from Arrow Energy Group and AGL Energy Ltd represents a major milestone that will enable Queensland Pacific Metals to achieve vertical integration of energy supply chain for the TECH project, significantly de-risking operations by securing long-term, economical gas supply.
“Vertical integration of our energy supply chain for the TECH Project is a significant de-risking event that cannot be underestimated. This Transaction is yet another commercial arrangement that the management team of QPM has been able to orchestrate to bring us one step closer to construction of the TECH Project and to deliver value for shareholders,” QPM Managing Director and CEO Dr Stephen Grocott said.
“The potential of the Moranbah Project and QPME’s Carbon Abatement Strategy is enormous and via our collection Hubs, the Northern Bowen Basin is well positioned to become a major energy supplier to Northern Australia. This potential is further reinforced by the strong tailwinds we are experiencing from Australian Government reform for carbon emissions reductions and the growing global need and acceptance to utilise gas to facilitate successful energy transition,” QPM Energy Pty Ltd Chief Executive Officer David Wrench said.
Queensland Pacific Metals will be processing approximately 1.5 million tonnes of ore annually at the TECH Project to produce critical materials that will be utilised in new-technology batteries.
The TECH Project – which was announced as a Significant Investment Project – is set to become a leading supplier of high-grade, ethically derived advanced materials.
Approximately 800 construction jobs as well as an estimated 1,700 operational jobs are set to be created by the TECH Project.
“It’s exciting to see Queensland Pacific Metals take on this project which will help progress its TECH facility in Townsville.
“Gas continues to be a key fuel for manufacturing facilities like the Townsville Energy Chemicals Hub.
“Townsville is continuing to power ahead through project like this along with the Palaszczuk Government’s $5 billion investment in Copperstring 2032,” Minister for Resources Scott Stewart said.
The TECH Project is going to be built within the Lansdown Eco-Industrial Precinct, which was declared a prescribed project last month.
The Lansdown Eco-Industrial Precinct will pave the way for a major green manufacturing hub in North Queensland.
“Today’s declaration is good news for North Queensland jobs now, and for decades to come, as we deliver our landmark Energy and Jobs.
“Better yet, it will be a key link in the renewable hydrogen chain, while also supporting the growing critical minerals industry here in the North,” Premier Annastacia Palaszczuk said.
Declaring the Lansdown project a prescribed project will fast track its approvals process and get works going on the enabling infrastructure needed for the development of the 2,500-hectare precinct. In addition, the declaration will also provide the Townsville City Council and Queensland Government with support in delivering this significant project.
“Townsville is poised to become a leader in advanced manufacturing and renewable energy – and this precinct is the game-changer to make it happen.
“With existing infrastructure at Port of Townsville, Lansdown is ideally located for local suppliers to become part of the fast-growing global supply chain in emerging industries,” Deputy Premier Steven Miles said.
Enabling infrastructure required for the development of the Lansdown Eco-Industrial Precinct include the construction of rail and road connections, delivery of water to the precinct as well as internal road networks that will support future project proponents.
“The classification of Lansdown by the Queensland Government as Prescribed Project is welcome. It provides coordination between government departments, Council and successful industry proponents that is vital in securing long term employment and economic security for the people of Townsville and the north.
“Lansdown positions Townsville for future industries that take sustainable and environmental practices seriously.
“We continue to have industries approach us for consideration as part of the Lansdown EOI process,” Mayor Jenny Hill said.
The Lansdown Eco-Industrial Precinct will provide a jobs boom with the creation of approximately 5,000 jobs during construction and up to 1,600 direct and 9,100 indirect jobs once projects within the precinct are operational.
To date, the Queensland and Australian Governments have committed $74 million to deliver the enabling infrastructure needed to jump start the development of the precinct.
“Lansdown is at the heart of our plans to ensure people in North Queensland reap the massive economic and employment benefits from our investment in clean and green energy,” Minister Stewart said.
“Lansdown will unlock a wealth of economic opportunities for the region, generating thousands of good jobs for regional Queenslanders for decades to come,” Member for Thuringowa Aaron Harper said.
“Lansdown will herald a new industrial age for North Queensland and help put the Sunshine State on the map as a global renewable energy hub,” Member for Mundingburra Les Walker said.
Source: Queensland Government – Media Statements (1, 2); Queensland Pacific Metals (1, 2)