Vecco mining plans win coordinated project status

Vecco Group's critical minerals project in North-West Queensland has attracted coordinated project status, streamlining its way through the approvals process. The $798 million project involves the development of an open-cut mine and processing plant to extract vanadium, high purity alumina (HPA) and molybdenum. The mine, about 70km north of Julia Creek, is one element of a vanadium flow battery manufacturing chain being developed by Vecco Group in collaboration with Sumitomo Electric and Idemitsu. Related: Deal charges up North’s vanadium battery future Queensland Coordinator-General Gerard Coggan said it was important to facilitate and responsibly progress projects that provided pathways to realise the potential for new industry and jobs moving towards the State’s low emissions targets. “The (coordinated project) declaration fosters a whole-of-government approach to developing critical mineral projects and to support positive outcomes for North-West Queensland communities," he said. “There is a reason critical minerals are referred to as ‘critical’ and it is because they are of high economic importance to transition to renewable energy. “The critical minerals proposed for mining in this area would be used for batteries that will provide grid energy storage, and other electronic devices.” Related: Vecco advances Julia Creek critical minerals plans Vecco Group plans to extract up to 6.7Mtpa of run-of-mine ore to produce up to 8000tpa of vanadium, 4000tpa of high purity alumina and 600tpa of molybdenum over a 17-year mine life. Vecco plans to transport product from the site to its own vanadium electrolyte manufacturing facility in Townsville in advance of a planned vanadium battery manufacturing plant being established. “Demand for vanadium flow batteries is rapidly increasing to meet the world’s energy storage demands," Vecco Group managing director Thomas Northcott said. "Australia’s demand for medium and deep duration storage by 2045 has been estimated at over 100GWh 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.” The project is predicted to create up to 300 jobs over the construction period, and up to 274 jobs during the mine’s operational phase. Pending approvals, construction is expected to start in 2025 and operations in late 2026. You may also like: https://industryqld.com.au/critical-minerals-group-expands-vanadium-ground

Vecco mining plans win coordinated project status

Industry Queensland

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