The Queensland Government is fast-tracking private company Graphinex’s Esmeralda graphite project with a Coordinated Project declaration.
In a July 11 statement, the government said that the declaration forms part of the Crisafulli Government’s move to partner with private companies and boost job-creating projects in Queensland.
“De-risking the delivery of projects like this through whole-of-government approval coordination is supporting more Queensland investment and creating more well-paying Queensland resource jobs,” commented Deputy Premier and Minister for State Development, Infrastructure, Local Government and Planning Jarrod Blejie.
Esmeralda is located south of Croydon and is expected to create around 233 jobs in north Queensland, 100 during construction and 133 during peak operations.
The project is said to be Queensland’s largest graphite deposit, measuring 3.5 million tonnes.
“(This declaration) streamlines approvals, cuts our development timeline by at least 12 months, and confirms the (Queensland) Government’s recognition of the project’s strategic importance to the state,” commented Graphinex Managing Director Art Malone.
According to the Queensland Treasury, Esmeralda holds a processing and testing capacity of 240 tonnes of graphite concentrate annually.
“(It) will shortcut delays associated with sending minerals overseas for testing,” the treasury highlighted.
Meanwhile, investors are responding to the Crisafulli Government’s moves, according to Minister for Natural Resources and Mines Dale Last.
“With a reported 25 million tonnes of graphite in this region – the third-largest deposit in the world – this project will help build Queensland’s critical minerals capability and strengthen domestic supply chains.”
“Investors are looking at jurisdictions that offer certainty, clarity and low sovereign risk,” he added.
Graphinex is also currently progressing a battery anode demonstration facility in Townsville, Queensland, which is set to be built in 2025.
The facility is regarded as “Australia’s first fully integrated demonstration-scale plants for processing graphite concentrate in Townsville.”
It is supported through Queensland’s Critical Minerals and Battery Technology Fund.
Environmental approval processes for Esmeralda will now commence following the declaration.
Construction for the project is set for 2027, while operations are expected towards the latter half of 2028.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
