| May 21, 2024

Work Already Underway on a Future Made in Australia

Work on a Future Made in Australia is well underway within a week of the federal budget being handed down.

 

The Smart Energy Council joined Treasurer Jim Chalmers in Gladstone, Central Queensland, this morning to hear Quinbrook Infrastructure Partners announce a massively important green iron development, in conjunction with Central Queensland Hydrogen (CQ-H2).

The Gladstone Green Iron project represents a capital investment of up to $3.5 billion on current estimates and incorporates the exploration, development, mining and concentration of the magnetite ore, with the transport of concentrated ore to the Gladstone State Development Zone and conversion to green iron using hydrogen produced by the CQ-H2.

 

“These projects don’t just happen by osmosis, they require the policy and budgetary settings of Government to lure big investors like Quinbrook Infrastructure Partners,” Smart Energy Council Chief Executive John Grimes said.

“We applaud the Federal and Queensland Governments for signalling to the world that Australia is determined to become a renewable energy powerhouse.”

“We also celebrate Quinbrook for believing in a Future Made in Australia and committing to this important economy transforming project.”

“Australia has extraordinary opportunities to be a global green iron superpower.”

“Accenture alone believes the potential development of green iron and steel sectors in Australia could create $35.3 billion in exports and create over 100,000 direct and indirect jobs by 2040.” 

“CQ-H2 alone expects to create thousands of jobs as they support Australia’s economic green transition and domestic decarbonisation.”

“This is what a Future Made in Australia looks like.”

 

Quinbrook and Central Queensland Hydrogen Project are both leading members of the Smart Energy Council.

 

Quotes attributable to: 

 

Co-founder and Managing Partner of Quinbrook Infrastructure Partner, David Scaysbrook 

“Gladstone has all the fundamentals needed for a world class green iron project with many compelling cost advantages including what looks to be a world class ore deposit in close proximity to existing port infrastructure, as well as established road, rail and high voltage transmission infrastructure and more importantly, direct access to central Queensland’s abundant renewable power endowment.”

“These are the exact fundamentals that hopeful green steel producers need and are scouring the planet for and we have them right here in Gladstone. 

“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 and the recent Federal budget announcements have given us and our partners the confidence to get on with it.”

 

Treasurer Jim Chalmers: 

Central Queensland will play a central role in a Future Made in Australia.”

“Our economic plan is all about maximising our advantages to make our people the big beneficiaries of change in our economy.” 

“It’s about building on our strong and proud foundation as a resources powerhouse to also be a renewables powerhouse – leveraging private investment to create more jobs and more opportunities in more parts of Queensland and the country in mining, refining, manufacturing, processing and exporting.”

“To grab the opportunities on offer in the defining decade ahead, we have to incentivise and unlock more investment in Queensland and that’s exactly what our Budget and our production tax credits are designed to do.”

 

Stanwell CEO Michael O’Rourke:

“Stanwell is driving the development of the hydrogen industry in Queensland.

“We are spearheading the Central Queensland Regional Hydrogen Hub and leading the development of the Central Queensland Hydrogen (CQ-H2) Project, a global scale renewable hydrogen project that will be an absolute game changer for Gladstone and Central Queensland.” 

“We are working with consortium partners from Japan and Singapore representing the whole hydrogen supply chain to develop the Central Queensland Hydrogen (CQ-H2) Project to export renewable hydrogen and green ammonia to Japan and Korea, as well as supplying large industrial customers here in Central Queensland.”

“Our CQ-H2 Project offers the trifecta: driving economic transition in Gladstone, facilitating domestic decarbonisation, and anchoring a new export industry to Australia’s closest and most strategic trading partners.

“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.”

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