Queensland Pacific Metals Ltd (ASX:QPM) has outlined the benefits of its Townsville Energy Chemicals Hub (TECH) Project and its role in the Queensland Critical Minerals Strategy during a meeting held in Seoul, South Korea on July 13, 2023.
This gathering offered a robust platform for endorsing the State Government’s strategy on critical minerals while also strengthening support for QPM and its 100%-owned TECH Project.
In attendance were high-profile delegates from the Queensland Government, including Premier Annastacia Palaszczuk and Minister for Resources Scott Stewart, along with representatives from LG Energy Solution (LGES), POSCO, K-Sure and other key stakeholders of QPM.
Government collaboration
Crucially for QPM, the Premier confirmed that the Queensland Government is collaboratively working with the company to support investment in its quest for a final investment decision (FID) for the TECH Project.
"The Queensland Government and the Minister for Resources delivered significant messages during the meeting," QPM’s managing director & CEO Dr Stephen Grocott said.
"Key among these were the reaffirmation of Townsville as an ideal location for critical metals manufacturing, outlining the Queensland Critical Minerals Strategy and the Government’s commitment to work with QPM to attain a Final Investment Decision for the TECH Project."
Stakeholders present
Along with Grocott, QPM's chair John Abbott was among the participants, along with other Queensland stakeholders such as Townsville Mayor Cr Jenny Hill and Townsville Enterprise CEO Claudia Brumme-Smith.
Notable Korean figures from LGES’ Cathode Procurement and Global Investment Divisions, POSCO’s Fund Investment Division and K-Sure team, focused on the TECH Project's debt financing, also played integral roles in the discussion.
“A significant project”
Grocott further added: "QPM is poised to deliver the TECH Project and become a significant supplier of critical battery metals for the rapidly growing EV sector.
"We would like to thank the Queensland Government for its ongoing support and look forward to working with them to help achieve a final investment decision to construct what is a very significant project for both Queensland and Australia."