Queensland Coordinator-General Gerard Coggan has named the Vecco critical minerals project a “coordinated project”, allowing the environmental approvals process with the Queensland and Federal Government to commence.
Located 70km north of Julia Creek in northwest Queensland, the Vecco critical minerals project will comprise a mine and processing plant capable of producing up to 8000 tonnes per annum (tpa) of vanadium, 4000tpa of high-purity alumina and 600tpa of molybdenum over a 17-year mine life.
Vanadium, alumina and molybdenum are all considered critical minerals in Australia. Each are important components in grid scale energy storage, lithium-ion batteries and electronic devices.
The Vecco critical minerals project has seen $798 million in investments and is expected to create up to 300 jobs over the construction period, and up to 274 jobs during the mine’s operational phase.
“It is important we facilitate and responsibly progress projects that help transition Queensland’s economy and provide pathways to realise the potential for new industry and new jobs creation as we move towards the state’s low emissions targets,” Coggan said.
“The community and stakeholders should have a say in evaluating the economic, social, and environmental effects. The coordinated project declaration allows this to happen in a consistent and considered and sequenced way.
“As Coordinator-General, I will oversee the project evaluation by all government agencies, considering community issues and possible impacts, and requiring an environmental impact statement for this project.
“The declaration fosters a whole-of-government approach to developing critical mineral projects and to support positive outcomes for northwest Queensland communities.”
Vecco Group managing director Thomas Northcott welcomed Coggan’s decision.
“Demand for vanadium flow batteries is rapidly increasing to meet the world’s energy storage demands,” Northcott said.
“Australia’s demand for medium and deep duration storage by 2045 has been estimated at over 100GWh (gigawatt hour) by the market operator and vanadium flow batteries made right here in Townsville from Queensland’s minerals can help meet this need while creating good jobs in regional areas.
“We will be able to integrate mining and manufacturing and apply our expertise in critical minerals into the downstream supply chain to assist Queensland to achieve its renewable energy target.”
Construction of the Vecco critical minerals project is expected to commence in 2025, with the operational phase anticipated to begin in late 2026.
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