The Queensland state government has fast-tracked an Australian first mining project, illustrating the vital role the mining industry plays in Australia’s economy.

It is estimated the QEM Limited Julia Creek Vanadium and Energy Project will generate up to 1200 jobs, providing a significant economic boost to the Queensland economy.

The $1.096bn critical mineral and oil mine proposal was last month declared a co-ordinated project by Queensland Co-ordinator-General Gerard Coggan in a bid to streamline the environmental assessment and approvals process.

So just why is this project so important and how would it revolutionise the Australian mining industry?

What are the impacts of this project?

The project would be the first mining project of its kind in Australia. To date, most vanadium to date has been produced in South Africa. However, Australia has one of the largest supplies of the mineral in the world, representing significant untapped potential. Global demand for vanadium batteries has significantly increased in recent years, with this trend only expected to continue. Experts argue that establishing a vanadium mining industry in Queensland could provide tens of billions of dollars for the state’s economy.

What are the benefits of the project?

Advocates say the project could provide various benefits including:

• Improving energy security: The project aims to produce 10,571 tonnes of high-purity vanadium pentoxide. This will be transported to Townsville to be refined into vanadium electrolyte, which will be used to create flow batteries. Flow batteries are considered viable large-scale alternatives to lithium-ion batteries. They are regarded as superior to lithium batteries due to their ability to store energy for an indefinite period of time. Experts say flow batteries are showing increasing potential as a key source of energy grid backup.
• Improve domestic fuel security: It is estimated the project would generate 313 million litres of diesel and aviation fuel each year, helping to shore up Australia’s fuel supply.
• Creating jobs: It is estimated the project would generate 600 construction jobs during the two year construction phase, with a further 588 positions to be created once the mine is fully operational. 35% of these jobs would be located in and around the township of Julia Creek, located 1,600 km North West of Brisbane.
• Enhancing the region’s economy: It is anticipated the project will bring significant economic growth to all communities within the Julia Creek community. It will facilitate the development of much needed infrastructure in the region.

When will the project commence?

Subject to approval, it is hoped construction of the project will commence in 2028, with the mine operational by late 2029. Prior to this, the project must undergo an environmental impact assessment, which will be subject to community consultation.

It is anticipated the mine would have a lifespan of around 30 years, ensuring long-term benefits to the region and the industry.

The Queensland government said its support of the project represented its commitment to delivering major infrastructure projects for the state.

Why the future for Australia’s mining industry is bright

This project demonstrates the vital role mining plays in supporting the nation’s energy, fuel and economic needs. If you have ever considered a career in the oil, mining and gas sectors now could be the perfect time to make a move, with endless opportunities available.

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Article References

Fellows, T (December 23 2024) ‘$1bn QEM vanadium project to generate 1200 jobs’, Courier Mail, accessed 21 January 2025.

The Australian (January 6 2025) ‘Environmental approvals pathway in sight for QEM’s Julia Creek project‘, The Australian, accessed 21 January 2025.