The Queensland Government has announced $1 billion in funding for CopperString 2032, $594 million of which is committed to start construction on the project over the coming financial year.
A $20 million early works package for engineering and geotechnical work has been awarded to CIMIC Group companies UGL and CPB Contractors.
The announcement was made at the official opening of Vecco Group’s $26 million Vanadium Battery Manufacturing Facility, which received support through the Queensland Jobs Fund.
The new vanadium facility will produce the electrolyte needed to manufacture vanadium batteries, an emerging battery technology that will be critical to support the world’s transition to renewable energy.
Vanadium batteries in comparison with lithium-ion batteries last longer at up to 20 years, have lower rates of degradation, and are almost 100 per cent recyclable.
This commitment paves the way for Queensland to use vanadium batteries in the Queensland SuperGrid, with Energy Queensland inking a deal with Vecco and Sumitomo Electric to trial a vanadium battery in South-East Queensland.
Energy Queensland and Vecco Group will also work together to assess the benefits and technical considerations for connecting more vanadium batteries to the electricity network.
Queensland Minister for Resources, Scott Stewart, said there is enormous potential for vanadium mining and production in North Queensland as demand for vanadium batteries continues to rise.
“Our government is proudly backing more full-time secure Queensland manufacturing jobs like these, and it’s CopperString 2032 that will unlock the full power of the north.
“If we don’t manufacture our future, someone else will.”
Queensland Premier, Annastacia Palaszczuk, said, “I want to see vanadium mined in Queensland, processed in Queensland, and made into vanadium batteries here in Queensland.
“This is just the beginning of the manufacturing and mining jobs boom that our investment in CopperString 2032 delivers for North Queensland.
“Queensland has unique deposits of many of the minerals needed for the global energy transformation, along with the best mining and manufacturing workforce.”
Vecco Group Managing Director, Tom Northcott, said Vecco Group’s high-quality vanadium resource in North West Queensland provides an opportunity to build a Queensland vanadium mining and battery manufacturing industry.
“Vanadium flow batteries will play a significant role in the Queensland SuperGrid and we expect to see deployments of this proven technology accelerate as the local supply chain expands,” Mr Northcott said.
“The Queensland Government has shown great foresight in its commitment to supporting the vanadium industry and it is fantastic to see this supply chain plan being implemented through the government-owned corporations such as EQL.”
