The State Government is helping to fast-track a key battery material source in North Queensland, with Graphinex winning coordinated project status for its planned Esmeralda mine.

Boasting 25.3 million tonnes of contained graphite, Esmeralda is described as the third largest known graphite deposit globally and the largest in the developed world.

Subject to approvals, construction is anticipated to start in 2027 and operations about 18 months later. 

Graphinex managing director Art Malone said the declaration of coordinated project status would accelerate the project’s path to market. 

“This coordinated project declaration is a major milestone for Graphinex. It streamlines approvals, cuts our development timeline by at least 12 months, and confirms the government’s recognition of the project’s strategic importance to the state.”  

The proposed open-cut mine, about 70km south of Croydon, would produce up to about 3.5Mtpa of run-of-mine ore over a mine life of about 50 years.

Graphite is recognised as a critical mineral by the Queensland and federal governments.

Its applications include use as the anode material in lithium-ion batteries due to its extremely effective conductor qualities.

Graphinex has developed a demonstration-scale plant in Townsville to take Esmeralda ore and process it through to coated active anode material (AAM) for batteries.

Idemitsu Australia last year announced a strategic investment in Graphinex, accelerating exploration and development activities for the Esmeralda graphite project.

The project recently attracted further backing through a trade mission to North America led by Natural Resources and Mines Minister Dale Last.

“This is an exciting milestone that positions Queensland as a leader in graphite mining and processing,” Mr Last said. 

“With a reported 25 million tonnes of graphite in this region – the third-largest deposit in the world – this project will help build Queensland’s critical minerals capability and strengthen domestic supply chains.” 

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