Canada puts up conditional $200m for Townsville nickel scheme

Export Development Canada has indicated it could provide up to $200 million in debt funding for QPM’s nickel refinery in Townsville.

Jan 25, 2023, updated Jan 25, 2023
Townsville's QPM project has been boost by Canadian interest

Townsville's QPM project has been boost by Canadian interest

EDC’s financing was subject to the successful completion of its due diligence and underwriting conditions.

The potential funding is a significant step for the project which has a strategy to get its funding from international export credit agencies and other government backed lenders.

QPM was also negotiating with the Northern Australia Infrastructure Facility and Export Finance Australia.

It has completed its strategic assessment stage with NAIF.

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The project has already completed a pre-feasibility study and a definitive study is under way.

It has also negotiated offtake agreements with POSCO and LG Energy Solutions.

The refinery would take ore from New Caledonia and export metal out of the the Townsville port.


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