PERTH (miningweekly.com) – The Queensland government on Thursday inked an assistance agreement with international consortium Imperium 3, over the proposed A$2-billion lithium-ion battery factory planned for Townsville.

Premier Annastacia Palaszczuk said the agreement with Imperium 3, led by Boston Energy and Innovation, ASX-listed Magnis Resources and battery technology developer Charge CCCV LLC, follows on from the government’s decision to provide up to A$3.1-million for a feasibility study into this project.

“Today’s signing is great news for Townsville, and Queensland as a whole, as it means we are one step closer to making this facility a reality, along with the jobs it would bring to Townsville,” the Premier said.

“In line with our Advance Queensland agenda, we are determined to make the most of the opportunities for the future, and by assisting to progress the feasibility study of this project, we hope to leverage considerable private sector investment into regional Queensland.

“Battery storage solutions are fundamental to making renewable energy reliable, and Imperium 3’s project would be supplying into a rapidly expanding market and would further develop Queensland’s advanced manufacturing capabilities in the renewable energy market.”

Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick said a senior team from his department had worked with Imperium 3 to finalise the assistance agreement to support the delivery of the feasibility study for the A$2-billion lithium-ion battery manufacturing facility.

“The feasibility study is a key requirement for attracting the next stage of funding and is expected to be completed next year,” he said.

“This project supports our vision to grow more jobs in regional Queensland, both at the facility and through supply chain opportunities.

“The project could be a vital job creator in Townsville, generating hundreds of high-skilled jobs at the manufacturing facility and throughout the supply chain.

“With today’s signing, we are another step closer to making this major manufacturing project a reality for Townsville, and following the feasibility study completion, we expect Imperium 3 will make the final investment decision by mid-2020.”