BRISBANE Companies news

QLD | $470 million mine one step closer for North West

Hundreds of jobs are now one step closer for North West Queensland with the $470 million Saint Elmo vanadium mine prescribed project.

Minister for State Development Cameron Dick said the Multicom Resources Limited project, located 25 km east of Julia Creek, could deliver 200 construction jobs and 150 operational jobs, with priority given to locals living in the McKinlay Local Government Area. He said:

“This project has an anticipated 30-year life span, which could mean decades of secure jobs for locals. The proponent will mine and process vanadium for use in the growth market of vanadium batteries and new technologies within the renewable energy sector, and in high-strength steel production.”

Multicom Resources Limited CEO, Shaun McCarthy welcomed the designation. He said:

“We are very grateful for the continued support provided by the Queensland Government to the Saint Elmo Vanadium Project. [...] Gaining the required permits and approvals in a timely and efficient manner is a critical aspect of our development plans.”

Mr Dick said the project is consistent with the Queensland Government’s North West Queensland Economic Diversification Strategy, providing investment, contributing to developing strong supply chains and creating sustainable communities.

Construction could commence in late 2020, with the first vanadium exports proposed to commence in 2021.

Source: Queensland Government