Qld Premier supports the Townsville Lithium-ion Giga factory: Magnis Resources Ltd (ASX: MNS) has announced that Queensland Premier Annastacia Palaszczuk has publicly expressed support for Townsville Lithium-ion battery Giga factory project following the submission of a scoping study, that demonstrates the project’s positive economic impact. The consortium (that includes MNS) also continues to receive strong support and assistance from local government and State Members of Parliament. Considerable 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 Giga factory. In parallel, strong progress is being made on the technical development of the project, including qualification of manufacturing input materials and budget pricing. Further, 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. However, this work is part of a process package that is being developed for the next phase of the feasibility study.
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