$1bn QEM vanadium project to generate 1200 jobs

The state government has fast-tracked an Australian-first mining proposal that could create up to 1200 jobs in northwest Queensland.

Drilling on a different vanadium project near Julia Creek. (File picture)

An Australian-first mining proposal that could create up to 1200 jobs in northwest Queensland and generate billions for the state has been put on the government’s fast-track process.

The QEM Limited Julia Creek Vanadium and Energy Project, a $1.096bn critical mineral and oil mine proposal, was on Sunday declared a co-ordinated project by Queensland Co-ordinator-General Gerard Coggan in a bid to streamline the environmental assessment and approvals process.

It would be the first mining project of its kind in Australia, aiming to produce 10,571 tonnes of high-purity vanadium pentoxide, used to create large-scale alternatives to lithium-ion batteries, and 313 million litres of diesel and aviation fuel each year.

“The Office of the Co-ordinator-General will oversee the project evaluation by all government agencies, requiring an environmental impact assessment with community consultation,” Mr Coggan said.

The project is tipped to create 600 construction jobs and 588 mining jobs – 35 per cent of which would be offered locally for those based in Julia Creek or nearby towns.

Julia Creek is about 3 hours from the copper, lead and zinc mining hub of Mount Isa

The mine has been proposed to operate for 30 years, with construction able to begin in 2028 and the mine operational in late 2029.

Vanadium would be transported to Townsville to be manufactured into flow batteries, which are regarded as superior to lithium batteries due to the ability to store energy for an indefinite period of time.

McKinlay Shire Mayor Janene Fegan said the project would bring economic growth to all communities within the region.

“And we are looking forward to it being sustainable,” she said.

QEM Limited managing director Gavin Loyden said the project would address both energy storage and domestic fuel security.

“The adoption of vanadium flow batteries is accelerating around the world, and Queensland is uniquely positioned to establish a ‘pit to battery’ manufacturing value chain,” he said.

“QEM Limited will expand its participation in this value chain by processing its vanadium pentoxide into vanadium electrolyte for long-duration batteries.”

Originally published as $1bn QEM vanadium project to generate 1200 jobs