The Australian Government has granted ‘Major Project Status’ to several large-scale developments of ‘national significance’. This status provides companies with additional support to navigate the regulatory system, recognising the strategic and economic importance of these projects to the nation’s future. Diatreme Resources’ (ASX:DRX) Northern Silica Project, located north of Cairns, is among the beneficiaries. Diatreme Resources is focused on supplying high-quality silica sand and other mineral products. Their Northern Silica Project is expected to produce 3-5 million tonnes of silica sand annually over 25 years, creating 120 construction jobs and 90 ongoing roles.
The Bonaparte Carbon Capture and Storage Project, operated by Inpex (TYO:1605) in a joint venture with TotalEnergies CCS Australia and Woodside Energy (ASX:WDS), has also received Major Project Status. Inpex is Japan’s largest exploration and production company. The Bonaparte project, located offshore northwest of Darwin, aims to reduce emissions in industries that are hard to abate, such as metal and chemical refining, potentially creating 370 construction jobs and 40 ongoing positions. It is the first offshore carbon capture and storage project to receive this status in Australia.
Additionally, the Australia-Asia Power Link (SunCable) solar energy project based in Darwin and the Broken Hill Cobalt Blue Project (BHCP) have had their Major Project Status renewed. The SunCable project is expected to generate 6GW of renewable electricity at full capacity, creating over 1,750 construction jobs and 350 long-term operational roles. Cobalt Blue (ASX:COB) aims to produce battery-grade cobalt chemicals and become the first domestic producer of elemental sulphur. The Broken Hill project will produce enough refined material to power batteries for approximately 375,000 electric vehicles annually.
