Multicom Resources has earned a major project status for the Saint Elmo vanadium project in north west Queensland.
This signifies the Australian Government’s move to advance the country’s position as a critical minerals powerhouse globally.
Multicom plans to develop an open cut mine for the production of vanadium, a key material in manufacturing batteries.
The project will create more than 200 jobs during construction and 150 more once the mine is operational. Its workforce will grow to 250 people at the expected expanded production levels.
Multicom executive director Nathan Cammerman welcomed the major project status awarded to the project.
“The designation sends a clear signal to our international partners that the Australian Government is committed to enabling critical minerals projects,” Cammerman said.
“Support with the final project construction and development approvals required for the project will also help towards significant employment and economic outcomes for the Julia Creek and broader north Queensland region.”
Multicom aims to produce up to 20,000 tonnes a year of vanadium pentoxide over a mine life of at least 30 years.
Construction is expected next year, with the first vanadium exports in 2021.
Australian Minister for Resources and Northern Australia Matt Canavan said there was increasing global demand for rare earths and valuable resources like vanadium, which were on the critical minerals list in Australia and the United States.
“My recent trip to the United States focussed heavily on strengthening US-Australia ties on critical minerals, and this project will be one of many that will benefit from the opportunities provided by this collaboration,” Canavan said.
“Granting major project status to Saint Elmo is evidence of this government’s support to this vitally important sector which has everyday applications in electric vehicles, renewable energy and smart phones.”
Major project status is the Australian Government’s recognition of the strategic significance of a project to Australia.
It provides companies with extra support, including a single entry point for federal government approvals, project support and coordination, and help with state and territory approvals.
The Saint Elmo project is 25 kilometres east of the town of Julia Creek.
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