- Graphinex secures USD$860 million (A$1.32 billion) Letter of Interest from the Export-Import Bank of the United States.
- Funding will support development of the Esmeralda Graphite project in North Queensland, which has been fast-tracked by the Crisafulli Government.
- Project to deliver more than 200 jobs across North-West Queensland and Townsville.
- Crisafulli Government is delivering a better lifestyle through a stronger economy and a fresh start for Queensland.
The Crisafulli Government's push to restore Queensland's reputation on the world stage and attract investment has delivered for the State's critical minerals industry overnight, with Graphinex securing US backing for its graphite project in North Queensland.
The company has secured a Letter of Interest from the Export-Import Bank of the United States (EXIM), for US$860 million (A$1.32 billion) in funding to support its proposed graphite mine near Croydon in North-West Queensland and graphite processing plant in Townsville.
The project, which is expected to create more than 200 jobs, has been fast-tracked by the Crisafulli Government, with the Terms of Reference for the project's Environmental Impact Statement released earlier this month.
Minister for Finance, Trade, Employment and Training Ros Bates, said the Crisafulli Government's global engagement was delivering outcomes.
"Over the past decade, exports were transactional, relationships were an afterthought, Queensland's export potential sat idle, and investment opportunities were missed," said Minister Bates.
"Under the Crisafulli Government, Queensland is open for business and is back on the world map as a premier location for trade and innovation – and we're seeing the benefits.
"By taking our international partnerships seriously, we are delivering a fresh start with new jobs and new investment, so Queenslanders can get on with building the lifestyle they deserve.
"The timing couldn't be better to showcase the investment interest in Queensland, with the International Mining and Resources Conference in Sydney this week, putting Queensland's resources sector front of mind for more than 10,000 delegates."
Minister for Natural Resources and Mines Dale Last said the US backing for Graphinex is a vote of confidence in the Crisafulli Government's resources agenda.
"Investor confidence is returning to Queensland because the Crisafulli Government is delivering the certainty industry needs to plan with confidence to create more jobs," Minister Last said.
"This Letter of Interest follows close engagement between the Crisafulli Government and EXIM, as part of our plan to restore Queensland's international reputation and deliver a better lifestyle for Queenslanders through a stronger economy.
"This announcement shows what can be done by working with industry, instead of against it.
"Queensland is home to world-class graphite reserves in the world, and Graphinex's plan to mine, process and manufacture ultra-high performance anodes right here in Queensland shows we are ready to lead the next wave of critical minerals investment.
Graphinex Managing Director Art Malone, said the financing support reflects the growing importance of graphite to U.S. energy security and industrial resilience.
"This is a pivotal moment for Graphinex and a strong signal from Washington DC that graphite matters," Mr Malone said.
"The US has made it clear that secure supply chains for critical minerals are essential to advanced manufacturing and defence capability.
"This financing milestone provides the momentum needed to accelerate development, lock in downstream partnerships, and create a secure and scalable pathway for high-quality and reliable graphite supply into the U.S. market."
