- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Silver47 Exploration
Purpose Bitcoin ETF
Syntheia
Black Swan Graphene
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Queensland Premier Publicly Supports The Townsville Lithium-ion Gigafactory
• Strong support from Premier Annastacia Palaszczuk, along with ongoing assistance from Local and State governments • Funding discussions ongoing with both government bodies and the private sector • Pleasing progress being made on the technical development of the project, including budget pricing • Land valuation completeMagnis Resources (ASX:MNS) is pleased to provide this update on …
• Strong support from Premier Annastacia Palaszczuk, along with ongoing assistance from Local and State governments
• Funding discussions ongoing with both government bodies and the private sector
• Pleasing progress being made on the technical development of the project, including budget pricing
• Land valuation complete
Magnis Resources (ASX:MNS) is pleased to provide this update on the Townsville Lithium-ion battery Gigafactory.
Queensland Premier Annastacia Palaszczuk has publicly expressed support for the project following the submission of a scoping study that demonstrates the project’s positive economic impact. The consortium also continues to receive strong support and assistance from local government and State Members of Parliament.
Pleasing progress is being made in funding discussions with relevant State and Federal government bodies, along with private enterprise including local and overseas groups within the energy sector.
As part of the funding discussion process, land valuation work has been completed on the 400-hectare site in Woodstock, Queensland that has been selected as the location for the Townsville Gigafactory.
In parallel, strong progress is being made on the technical development of the project, including qualification of manufacturing input materials and budget pricing. Engagement with major equipment vendors is ongoing and budget costs received to date have been consistent with scoping study estimates.
Pilot testing of manufacturing processes and production of prototype battery products for potential customers has begun. This work is part of a process package that is being developed for the next phase of the feasibility study.
The Townsville Battery plant consortium consists of Imperium3, Eastman Kodak Company and C&D Assembly. The global consortium Imperium3 is comprised of Boston Energy and Innovation, Charge CCCV and Magnis.
All parties are committed to transforming Australia’s energy security by pledging the new batteries will be cost competitive, better performing, a sustainable supply chain, environmentally friendly and an alternative to current major energy suppliers.
Chairman of Magnis Resources Frank Poullas commented: “We are thankful for the strong support we have received from Premier Palaszczuk, the Queensland State Government, Townsville City Council and other government agencies in getting this vital project underway.
“We are continuing to make very strong progress across a number of fronts in advancing this major project, both in terms of securing funding and technical development. This work is crucial in laying the foundations for the Townsville Lithium-ion Gigafactory.
“The Townville Lithium-ion Gigafactory will be a vitally important piece of economic infrastructure for the Queensland economy, which will secure Townsville as a leading international hub for technology and innovation.”
Frank Poullas Chairman
Magnis Resources Limited
+61 2 8397 9888
www.magnis.com.au
Click here to connect with Magnis Resources (ASX:MNS) to receive an Investor Presentation.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.