Vecco Group’s $500m Critical Minerals Project declared prescribed project status

Queensland Deputy Premier and Minister for State Development, Infrastructure, Local Government and Planning, Hon Stephen Miles, has declared the Vecco Critical Minerals Project and Townsville Electrolyte Facility a “prescribed project” under the State Development and Public Works Organisation Act 1971 (Qld).

The declaration will fast-track approvals needed for Vecco Group to significantly expand its production of vanadium electrolyte on home soil using locally mined and processed vanadium.

Vecco plans to mine and process vanadium near Julia Creek and expand its vanadium electrolyte manufacturing in Townsville to ramp up production from two million litres to 20 million litres per year.

It also plans to partner with overseas battery manufacturers to set up hardware manufacturing locally, providing a complete vanadium battery product for the market.

The $500 million project is expected to create 400 construction jobs and 190 operational jobs.

Vecco Group’s Managing Director, Thomas Northcott Said “The world class vanadium resources and government owned energy businesses puts Queensland in an enviable position, creating a local and secure battery supply chain to support the energy transition”.

Vecco’s Townsville Vanadium Battery Manufacturing Facility, opened in June, is the nation’s first commercial-scale vanadium flow battery electrolyte manufacturing plant.

“Our Vecco vanadium battery electrolyte manufacturing plant currently in operation in Townsville was the first in Australia and is operated by local employees producing a market ready product to store renewable energy. Our expansion with the planned second facility will significantly increase output and allow Vanadium batteries, powered by Vecco Vanadium, to play a significant role in Queensland energy transformation” said Tom Northcott.

“In parallel with our expansion in Townsville, we are progressing with manufacturing facilities in North America and Europe, exporting Queensland vanadium to Vecco customers around the world.

Pending approvals, mining operations are planned to begin around mid-2025. Today’s milestone comes as a Queensland Battery Industry Strategy is being developed to grow local industry and supply chains.