Quinbrook Infrastructure Partners has commenced development of an ambitious $3.5 billion ‘Green Iron’ project in Gladstone, Queensland.
The global investment manager is partnering with Central Queensland Metals (CQM) to evaluate and test CQM’s Eulogie magnetite deposit, estimated to contain 465 million tonnes of ore.
The project involves mining and concentrating the magnetite ore, transporting it to Gladstone, and potentially converting it to green iron using hydrogen from Stanwell’s planned Central Queensland Hydrogen Project (CQ-H2).
Both the ore concentrate and green iron could be exported through Gladstone Port’s existing rail infrastructure.
“Gladstone has all the fundamentals needed for a world class green iron project with many compelling cost advantages,” David Scaysbrook, co-founder and managing partner at Quinbrook, said.
“This is exactly the type of project the ‘Made in Australia’ and critical minerals policies of the Federal and Queensland State Government are designed to support.”
Quinbrook is developing renewable energy and storage projects dedicated to powering new manufacturing in Gladstone. It has secured land for the Green Iron project near CQ-H2 and is in joint venture talks with Stanwell Corporation on hydrogen supply and renewable power.
According to Stanwell, its CQ-H2 Project is uniquely positioned to supply renewable hydrogen to Quinbrook’s green iron facility, creating a thriving ecosystem of innovation and economic growth.
“The fact that a multinational player like Quinbrook is proposing to build their Gladstone green iron facility next to our CQ-H2 Project Hydrogen Production Facility is a huge vote of confidence by industry in the clean industry ecosystem we are bringing to life in Gladstone,” the company said on its LinkedIn page.
Brian Restall, Quinbrook’s managing director and regional leader, said the project “has the potential to create a significant new infrastructure investment and export opportunity in the same way that Queensland’s coal seam gas resources have already done”.
The development phase, including approvals, is expected to take several years. Quinbrook plans to then seek an industry partner for design, construction and operations once development work progresses.
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