Applications are now open for the $100 million Queensland Critical Minerals and Battery Technology Fund which opened today.
The fund is aimed at enhancing the extraction and processing of critical minerals and will also accelerate the development of battery technologies and the production of precursor or advanced materials.
Premier Annastacia Palaszczuk said 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.”
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.
“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.
“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.”
Resources Minister Scott Stewart said there is the potential for thousands of good jobs as more critical mineral projects get off the ground which is why this fund is important.
“The Queensland Resources Common User Facility in Townsville is another way we are backing the resources industry as initially it will help resources companies prove up their product and develop new opportunities for vanadium mining.”
Eligible companies must be able to demonstrate alignment with fund objectives and Queensland Government policy objectives.
Assistance will be provided to new projects with demonstrated benefits to Queensland.
This may include building industry capability, supporting private sector infrastructure development, the creation of Queensland jobs, and upskilling and training opportunities.
For more information or to apply visit qic.com/qcmbtf.
