The Queensland government has declared the proposed $470 million Saint Elmo vanadium mine a prescribed project.
Minister for State Development Cameron Dick said the Multicom Resources Limited project, 25 km east of Julia Creek, could deliver 200 construction jobs and 150 operational jobs, with priority given to locals living in the McKinlay Shire Council area.
"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." Mr Dick said.
"Initially, 10,000 tonnes per annum will be mined at the site."
Mr Dick said an additional 100 operational and 150 construction jobs will be created as the project expands production to 20,000 tonnes a year over time.
Multicom Resources Limited CEO, Shaun McCarthy welcomed the designation.
"We are very grateful for the continued support provided by the Queensland Government to the Saint Elmo Vanadium Project," Mr McCarthy said.
"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.
"The Saint Elmo project will contribute to long-term sustainable growth in North West Queensland," he said.
"In addition to the mine, the project includes a processing plant, rail spur line into the mine site, workforce accommodation village and associated infrastructure including an off-site water supply dam and 20km pipeline to the project site."
Mr Dick said a declaration as a prescribed project helps to streamline approvals and fast-track delivery of the project.
It enables the Coordinator-General, if necessary, to intervene in the approvals process to ensure timely decision making for the project.
Construction could commence in late 2020, with the first vanadium exports proposed to commence in 2021.
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