Verónica Castro-AllendeThe new monthly report from Queensland Pacific Metals shows how dedicated they are to creating a long-lasting battery metals industry.
The demand for green energy solutions is at an all-time high as the energy landscape around the world continues to change quickly. In order to supply sustainable sources of critical battery metals for the electric vehicle ( EV ) industry, Queensland Pacific Metals is at the forefront of this. Several significant milestones are highlighted in their most recent quarterly ( Q3 ) report for 2023, including:
The project Moranbah
The project Moranbah, which collects and processes waste gases from metallurgical coal mining, has now been fully acquired by Queensland Pacific Metals Energy (QPME). This de-risks the gas supply for the TECH project and has the added benefit of making QPME a business generating significant standalone revenue. The company has already seen promising results with growth in gas capture and increased flow of gas to the nearby Townsville Power Station.
As a result of this acquisition, QPME now has the authority to store, transport, and generate electricity from the Townsville Power Station ( TPS) as well as gas through the North Queensland Gas Pipeline ( NQGP ). The generation of electricity from 25 August to 30 September 2023 was 6, 621 MWh. After taking over, QPME optimized run times to match maximum market prices and plans to run the TPS for longer peaking periods to boost revenue as gas supply and market conditions change.
TECH project
The Townsville Energy Chemical Hub ( TECH) project is a growing metals-refinery plant that aims to produce nickel and cobalt sulfate in an environmentally friendly and cutting-edge manner. The viability of the TECH project was significantly improved, moving it closer to a Final Investment Decision. These consist of:
- Nickel sulphate pilot testwork: According to a pilot plant at SGS in Canada, the professional flowsheet for the TECH project can be used to produce nickel that complies with certain offtake agreements from General Motors, LG Energy Solutions, and POSCO.
- A sizable pilot plant has been built in Glenn Innes, New South Wales, for the purpose of testing the hydrolysis of iron and aluminum. In collaboration with KBR Plinke, which is offering a sizable equipment package for this process, this will help with the tests of the iron and aluminum hydrolysis in the DNi ProcessTM for QPM. The majority of the acetic acid used in leaching is likewise recycled during this process. In the following step, acetic acid recovery and recycling are balanced.
- High Purity Alumina ( HPA ) Testwork: The HPA demonstration plant, run by Lava Blue, a QPM partner, still generates 99.99 % of its daily output of about two kilograms. Samples will be sent to specific prospective customers in the US after being transported there.
- Support for stakeholder infrastructure: QPM has started discussions with stakeholders like Townsville City Council, Powerlink, the Port of townsville, and the Queensland State Government to help secure funding for the TECH project, which will hasten the project’s funding objectives and increase gas capture.
Investment in SMT and General Motors
According to the quarterly report, QPM and SMT have formed a strategic partnership based on their recognition of the significance of safe and long-term ore supply for the TECH project’s initial phases, the strategic value of their involvement in the battery-metal supply chain, their collaboration in investment opportunities related to ESG, and the importance of SSG within the electronic vehicle industry.
SMT and General Motors both participated in a share placement that raised$ 16 million as well. SMT made a$ 5 million initial investment, and as part of the strategic partnership, QPM and the company will work on additional investments.
In the end, this will help with capital initiatives, operating cashflow requirement management, and funding work streams for the TECH project.
for the foreseeable future
QPM is still dedicated to responsible resource management and innovation as it moves forward toward a responsible energy future. A promising future is created by the TECH Project’s success, geopolitical alliances with major players, and the acquisition of the Moranbah project. The transformation of the energy sector is in progress.
and QPM play a crucial role in this convincing change.
As it advances in the dynamic energy sector, Queensland Pacific Metals ( ASX: QPM) shows its commitment to sustainability and advancement. The company is well-positioned to play a crucial role in the green energy future thanks to its apparent vision and track record of success.
