General Motors to invest in Townsville battery metals refinery
Plans for a $1bn+ battery metals refinery in Townsville have taken a big step forward with a US automotive manufacturer announcing it will invest in the venture. See the detail.
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Plans for a $1bn plus battery metals refinery in Townsville have taken a big step forward with US automotive manufacturer General Motors to invest in the venture to source nickel and cobalt for batteries in its electric vehicles.
As part of the agreement, GM is expected to invest up to US$69m ($108m) in Queensland Pacific Metals to develop its proposed Townsville Energy Chemicals Hub project in Lansdown Eco-Industrial Precinct about 40km west of Townsville.
The nickel and cobalt from Queensland Pacific Metals will help power a broad portfolio of trucks, SUVs, vans and luxury vehicles from GM, including the Chevrolet Silverado EV, GMC HUMMER EV Pickup and SUV, Cadillac LYRIQ, Chevrolet Blazer EV and Chevrolet Equinox EV.
“The collaboration with Queensland Pacific Metals will provide GM with a secure, cost-competitive and long-term supply of nickel and cobalt from a free-trade agreement partner to help support our fast-growing EV production needs,” GM vice president, Global Purchasing and Supply Chain, Jeff Morrison said.
“Importantly, the agreement demonstrates our commitment to building strong supplier relationships and is aligned with our approach to responsible sourcing and supply chain management.”
QPM CEO Stephen Grocott said they were absolutely delighted to collaborate with General Motors.
“GM’s strategic direction, company values and focus on sustainability in its pursuit of making electric vehicles for all is a perfect fit for Queensland Pacific Metals and our TECH project,” Mr Grocott said.
“GM’s investment in our company and the associated offtake brings us one step closer towards construction of the TECH project where we will one day aim to deliver the world’s cleanest produced nickel and cobalt.
“We thank GM for their belief in our TECH Project and look forward to becoming part of the GM sustainably sourced raw material supply chain.”
QPM’s proposed TECH project is poised to become a leading supplier of high-grade, advanced battery materials. The sustainable, high-purity battery materials refinery is being developed in response to the growing demand for battery materials for electric vehicles, particularly nickel and cobalt.
High-grade nickel laterite ore will be imported from New Caledonia for processing at the TECH facility using a patented refining and recycling process called the DNi Process which uses environmentally friendly methods to extract nickel, cobalt and other precious metals from the laterite ore.
QPM has acquired the rights to use the DNi Process from Altilium Group.
Key features of the process include more than 98 per cent nitric acid recycling, no tailings dam requirements and less waste than traditional extraction processes.
The TECH project is expected to begin construction in 2023.
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Originally published as General Motors to invest in Townsville battery metals refinery
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