The plant is being developed by the Imperium3 consortium which is made up of Magnis Resources, C4V, Boston Energy and Innovation, Eastman Kodak Group and C&D Assembly.

Up to 1000 direct jobs will be created at the battery plant, which will be built at Woodstock.

Imperium3 chairman Dr Shailesh Upreti said with the prices of nickel and cobalt continuing to rise the technology being developed by the consortium gave it a huge advantage in the marketplace, which was being reflected in the large original equipment manufacturers the consortium is in discussions with.

Queensland Premier Annastacia Palaszczuk and Townsville Mayor Jenny Hill went to Boston, Massachusetts on June 3 as part of the Queensland government's trade delegation to the US to witness Imperium3...