Company
ASX:QPM
Queensland Pacific Metals Ltd (ASX:QPM) has the Townsville Energy Chemicals Hub (TECH) Project, which is envisaged to become a sustainable producer of critical chemicals for the lithium-ion battery and electric vehicle sectors, particularly nickel. The project aims to import high-grade nickel laterite ore from New Caledonia for unloading at the Port of Townsville and then to be transported by road or rail to the TECH Project site at Lansdown. The site allocated for the project in the Townsville Industrial Precinct has all the necessary infrastructure including, water and gas pipelines, electric transmission lines, fibre optic communications, existing Ross River and edify solar arrays, road train access to Townsville Port and rail line.
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“New Caledonia, and the world, is awash with limonite resources that remain undeveloped – the successful commercialisation of the TECH Project will be a game changer for these deposits and their ability to form part of global, sustainable n
The TECH Project is envisaged to be a modern and sustainable producer of critical chemicals for the emerging lithium ion battery and electric vehicle sector.
"Maximising the underlying value of the feedstock ore is a key focus and in line with our goal of being a global leader in sustainability," managing director Stephen Grocott said.
In a further boost for QPM, the company has received binding commitments to raise A$30 million via a share placement of 187.5 million fully paid ordinary shares at an issue price of A$0.16 per share.
The partnership will significantly advance QPM’s progress on HPA, leveraging off the knowledge and expertise of an industry expert, which will allow QPM to maintain its focus on the production of net negative carbon nickel and cobalt sulpha
It demonstrates QPM’s commitment to make the TECH Project a global leader in ESG credentials for critical battery metal production.
The strong interest reflects not only the underlying project economics but also QPM being a sustainable green nickel producer.
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“The TECH Project will be a global leader in sustainability with net-carbon negative nickel production, minimal waste and environmental footprint and developed world labour laws," says MD.
QPM's TECH Project continues to progress well with the new 'Prescribed Project' status further smoothing the way for approvals and planning.
QPM has appointed John Abbott and Dr Sharna Glover as independent directors while Duane Woodbury has been appointed chief financial officer and Corinne Buffnoir is the new general manager for New Caledonia.
The future battery chemicals producer continues to advance its TECH project in Townsville, developing its pilot plant and advancing offtake agreements with emerging partners.
"This is vindication of the opportunity we have to build a world-leading manufacturing facility of battery metals which will be a game-changer for nickel laterite processing,” says MD & CEO.
There is also potential for the TECH Project to be a zero-carbon nickel producer, as the company is targeting a “significant reduction in carbon emissions”.
TECH Project is estimated to require 10 petajoules per annum of gas once in steady-state operation.
It is pushing ahead to turn into a producer of battery chemicals in Australia, as well as positioning the TECH Project to be a world-leader in sustainable nickel production.
The offtake agreements are conditional upon the equity investment by LGES and POSCO being approved by shareholders and the TECH Project achieving commercial production.
The company acknowledges the Bindal People as Traditional Owners and Custodians of the Lansdown site at Townsville and the agreement shows a commitment to ensuring Aboriginal Cultural Heritage is identified and managed.
The company acknowledges the Bindal People as Traditional Owners and Custodians of the Lansdown site at Townsville and the agreement shows a commitment to ensuring Aboriginal Cultural Heritage is identified and managed.
Jim Simpson’s experience in bringing projects together will be invaluable with the company undertaking a definitive feasibility study for the TECH project which will produce battery chemicals in Australia.
