The Queensland Government has announced the opening of its $100 million Queensland Critical Minerals and Battery Technology Fund, with applications now being accepted.
The fund is designed to accelerate the growth of the state’s emerging critical minerals, battery technology and advanced material opportunities.
Queensland State Treasurer and Minister for Trade and Investment, Cameron Dick, announced the opening of the fund at the Critical Minerals Investor Forum, a companion event to the 26th World Mining Congress with more than 3,000 delegates in attendance.
The Queensland Critical Minerals and Battery Technology Fund is aimed at enhancing the extraction and processing of critical minerals.
It is also designed to accelerate the development of battery technologies and the production of precursor or advanced materials to support Queensland jobs and economic growth.
Queensland Premier, Annastacia Palaszczuk, said, “Queensland has a clear vision to maximise the momentous opportunities that come with a clean energy future, as outlined in the Queensland Energy and Jobs Plan.
“Our state’s abundant reserves of vanadium, cobalt, copper and rare earth elements are the key to accelerating the development of clean energy technologies like solar panels, battery storage and electric vehicles.
“More than just digging these out of the ground, Queensland is in the enviable position to grow our capabilities right through the supply chain from pit to product as global demand skyrockets.
“In the electric vehicle battery market alone, annual global investment is predicted to surge in excess of $550 billion by 2030 in order to meet emissions targets.
“This fund will ensure that it’s cobalt and nickel extracted – and processed in Queensland by Queenslanders – that is powering the clean energy future ahead.”
Queensland State Treasurer and Minister for Trade and Investment, Cameron Dick, said, “Growing global demand creates a significant opportunity for Queensland’s critical minerals, battery technologies and advanced materials.
“However, we must ensure that local projects are production-ready, commercially viable and globally competitive.
“The Queensland Critical Minerals and Battery Technology Fund’s primary goal is to position our state at the front of the queue with the capacity and capability to meet global demand for decarbonisation.
“It supports the implementation of our recently released New-Industry Development Strategy and Queensland’s Battery Industry Strategy that is under development.
Mr Dick said that hosting the Critical Minerals Investor Forum was a great opportunity to engage directly with industry, academia, the Federal Government and the investment community to explore the trends, challenges and immediate and future investment opportunities.
“Our government is already developing the Queensland Resources Common User Facility and is supporting Vecco with Australia’s first commercial-scale vanadium flow battery electrolyte manufacturing facility, both located in Townsville,” Mr Dick said.
“The Queensland Critical Minerals and Battery Technology Fund builds on these commitments and draws on our strength in critical minerals coupled with local innovation and research capability to cement Queensland’s place in the global clean energy technology supply chain.”
