Queensland Pacific Metals welcomes government extension of Prescribed Project status By Proactive Investors

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Queensland Pacific Metals welcomes government extension of Prescribed Project status

Published Sep 19, 2023 10:09 Updated Sep 19, 2023 10:30

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Queensland Pacific Metals welcomes government extension of Prescribed Project status

Queensland Pacific Metals Ltd (ASX:QPM) has welcomed the Queensland Government's extension of the Prescribed Project status for the company’s flagship Townsville Energy Chemicals Hub (TECH) Project by two years to September 28, 2025.

Being declared a ‘Prescribed Project’ by the State Government means the project is of significance, particularly economically and socially to Queensland.

This announcement, which was made by Queensland's Deputy Premier and Minister for State Development, Infrastructure, Local Government and Planning, Dr Steven Miles, demonstrates ongoing strong support from the Queensland Government for QPM and the TECH Project.

Toward FID

The news comes as the company works towards a final investment decision for the TECH Project, which is set to become a leading supplier of high-grade, ethically derived advanced battery materials.

This modern and sustainable battery metals refinery will be located 40 kilometres south of Townsville, in northern Queensland, at the Lansdown Eco-Industrial Precinct – northern Australia’s first environmentally sustainable advanced manufacturing, processing and technology hub.

The project is an ideal location as it is well-supported with existing infrastructure, including water and gas pipelines, an electricity transmission network, fibre optic communications, and road train and rail access to Townsville Port, together with quality engineering services and skilled labour.

OCG assistance

The company says that to date, the Office of the Coordinator-General (OCG) has been instrumental in assisting QPM navigate through its approvals, dealings with Townsville City Council and establishment of critical supporting infrastructure for the TECH Project.

Having Prescribed Project status enlivens the Coordinator-General’s powers to ensure timely decision-making.

Read more on Proactive Investors AU

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