Technology Metals Australia Ltd (ASX:TMT) (FRA:TN6) has appointed resource industry professional Michael Bourke as project director to advance development of the Yarrabubba Iron-Vanadium Project in Western Australia.
Bourke will work with TMT’s team of employees and consultants to drive the rapid progression of Yarrabubba towards development with a focus on the definitive feasibility study (DFS).
His role also includes supporting the progression of environmental approvals for the Gabanintha Vanadium Project (GVP).
The company has also expanded engagement with Big Pawer Electrical Technology Xiangyang Inc Co Ltd by extending an MOU until December 31, 2021, to further facilitate development of this relationship.
“Fantastic addition to team”
TMT managing director Ian Prentice said: “Michael is a fantastic addition to our small highly focused professional team at TMT, with his strong project development, cost management and financial modelling/planning skills to be invaluable as we progress the Yarrabubba Project towards development.”
Extensive experience
Bourke has more than 30 years’ experience across development, operational and commercial roles, including seven years with Iluka Resources Limited (ASX:ILU) and six years with WMC Resources.
He deployed a surface mining fleet and maintenance services on projects in Canada for Emeco and was responsible for process plant maintenance services and fabrication for AGC in the mining and oil & gas sector of WA.
His most recent role was as a project manager at Bluestone Mines Tasmania progressing a study on the development of a major tin tailings treatment project and enhancing the existing processing plant and underground operation.
MOU with Big Pawer
In May 2020, Technology Metals signed an MOU with Big Pawer in relation to negotiating a definitive and binding offtake agreement for the supply and purchase of high purity V2O5 from GVP.
This was also aimed at the possible establishment of a joint venture to produce vanadium electrolyte and establishing a VRFB manufacturing base in Australia.
Engagement with Big Pawer, which included proposed site visits to complete mutual due diligence, has been impacted by the travel restrictions imposed as part of the global COVID-19 pandemic.
Both parties have, however, maintained dialogue concerning exploring the opportunity to bring together Big Pawer’s world-leading proprietary VRFB technology and TMT’s very high purity vanadium product, enabling the companies to increase the understanding of each other’s businesses and the opportunities presented.
Both parties have now agreed to expand the engagement and extend the MOU until December 31, 2021, to further facilitate the development of this relationship.
“Vote of confidence”
Prentice said: “The expanded engagement with Big Pawer is a very big vote of confidence in the company’s project development strategy and ensures TMT participation in the rapidly emerging VRFB industry.”
The relationship marks a significant step in TMT’s vision of becoming a key participant in the stationary storage battery market through the potential development and support of a VRFB manufacturing base to target the rapidly emerging stationary storage battery market opportunities in Australia.
Big Pawer is considered to be in the top three of VRFB enterprises in China and to date has deployed more than 20 VRFBs across Asia, including Singapore, South Korea and India with a VRFB R&D team considered to be one of the top six R&D teams in the world.
Headquartered in Xiangyang, Hubei Province of China, Big Pawer continues to progress the development and roll-out of its VRFBs, with a focus on very large stationary storage solutions in China.