Gladstone’s ‘game changing’ green iron project revealed

Artist's impression of the Gladstone Green Iron Project
Artist's impression of the Gladstone Green Iron Project

Global investments manager Quinbrook Infrastructure Partners has commenced the development phase on a proposed Green Iron Project in Gladstone, Queensland.

Quinbrook has partnered with Central Queensland Metals (CQM) which holds the exploration permits for what is the largest known magnetite deposit in Queensland.

Related article: Fortescue’s green hydrogen gigafactory opens in Gladstone

The Eulogie resource is a vanadiferous titanomagnetite ore deposit located 70km west of Gladstone, estimated to contain 465 million tonnes of ore with attractive characteristics for low cost extraction. The deposit is anticipated to have the potential to support a resource more than double this amount after further exploration work is undertaken by CQM supported by Quinbrook.

Quinbrook is currently developing a portfolio of renewable energy and storage projects in central Queensland dedicated to power multiple new energy intensive manufacturing projects planned for the Gladstone region in support of the Queensland Government’s Energy and Jobs Plan.

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 at Eulogie, the transport of concentrated ore to the Gladstone State Development Zone and potential conversion to green iron using hydrogen produced by the Central Queensland Hydrogen Project (CQ-H2).

Quinbrook has secured exclusive rights over land adjacent to CQ-H2 and is engaged in joint venture discussions with Stanwell Corporation on both hydrogen supply and the delivery of firm renewable power to support CQ-H2 and the power needs of the Gladstone Green Iron project.

Related article: Stanwell progresses renewable hydrogen in Gladstone

Quinbrook Infrastructure Partners co-founder and managing partner David Scaysbrook said, “This is unquestionably an ambitious project that directly addresses the hopes for Australia’s manufacturing renaissance. Whilst in its early stages, we believe 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.”

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