Skip to content
Finance Investment, Oil Mining Resources

Queensland Pacific Metals (ASX:QPM) – Townsville Energy Chemicals Hub (TECH) Project to supply critical minerals for global technology needs

Queensland Pacific Metals (ASX:QPM) 3 mins read

The Townsville Energy Chemicals Hub (“TECH”) Project, spearheaded by ASX listed Queensland Pacific Metals (ASX:QPM), is a pioneering initiative aimed at establishing a sustainable and high-purity critical minerals refinery in the Lansdown Eco-Industrial Precinct of Townsville City Council. This innovative project is set to import high-grade ore from New Caledonia for processing in Townsville, utilising a groundbreaking circular manufacturing process. This process is unique in its use of captured waste mine gas to drive a significant net reduction in Australia’s greenhouse gas emissions and is designed to have zero process liquid discharges, no tailings waste with all material converted into value-added products.

Central to the TECH Project's mission is the production of critical minerals that are vital for the global technology sector, especially in areas focusing on emissions reduction, advanced manufacturing, and defence. The primary products of the TECH plant include nickel sulfate and cobalt sulfate, essential for lithium-ion batteries, and high-purity alumina, used in LEDs, microchips, and sapphire glass.

In addition to these key products, the TECH Project will also generate valuable co-products. These include hematite pellets for steel production; various fertilisers and soil conditioners like ammonium nitrate, ammonium sulfate, gypsum, and magnesia; zinc sulfate; and engineered fill to support the local construction industry, offering an eco-friendly alternative to quarried materials.

At the heart of the TECH Project's processing capabilities is the proprietary Direct Nickel Process (DNi ProcessTM), a patented nickel processing technology developed in Australia in collaboration with CSIRO. Owned by the Altilium Group, Queensland Pacific Metals has secured the rights to use the DNi ProcessTM. Through Australian research and development efforts, significant enhancements have been made to this technology over the last three years, paving the way for its commercialisation and the advancement of the TECH project.

Dr. Stephen Grocott, Managing Director & CEO of Queensland Pacific Metals, stated: "The TECH Project is a testament to our commitment to pioneering a sustainable future in the critical minerals industry. By harnessing groundbreaking technologies and forming strategic alliances, we are not only enhancing Australia's position in the global technology sector but also contributing significantly to the local economy in Townsville and beyond.”

He added, “Our focus on sustainable practices, evidenced by our use of the DNi ProcessTM and our commitment to producing no tailings waste or process liquid discharges, aligns perfectly with our mission to address the critical gap in the global supply chain for green metals. With QPM at the forefront, we are setting new standards for environmental responsibility in the mining sector while ensuring a reliable supply of essential materials for the technology and defense industries worldwide."

The TECH project provides significant strategic benefits for the Company by creating key partnerships in the Pacific. QPM has secured binding ore supply agreements with four significant mining companies in New Caledonia, for up to 2.1 million wet metric tonnes of nickel laterite ore per annum for QPM.

Further to this, The TECH Project will deliver a major boost to the Townsville and North Queensland economy with benefits extending throughout Queensland and Australia.

The benefits to Townsville of Stage 1 of the TECH Project include:

●  578 FTE Jobs per year benefit over a three-year construction program

●  $1B Increase in annual economic output

●  30% Increase in local manufacturing activity

●  335 FTE Directly employed in high-skill positions in Townsville (80% processing employees)

●  Investment in new infrastructure will incentivise the development of other industrial opportunities.

QPM stands at the forefront of addressing the critical gap in the global supply chain for green metals. Current supply chains are struggling to meet the soaring demand for these essential materials, often marred by poor Environmental, Social, and Governance (“ESG”) credentials. QPM is poised to revolutionise the critical mineral processing industry by delivering low-cost, world-first environmentally sustainable products.

Dr. Stephen Grocott added: “This is exactly the type of project the Queensland and Commonwealth Governments have been calling for many years – advanced manufacturing that value-adds in Australia, creating high-skilled and high paid careers in a modern, clean industry.”


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

Media

More from this category

  • Finance Investment, General News
  • 25/07/2024
  • 14:03
PayPal

Volunteer tech support: Three-in-five Australians help their parents avoid scams and stay safe online

Sydney: New research from PayPal shows 9-in-10 (86%) Australians are moonlighting as tech support volunteers, by helping their friends, family and people they know…

  • Contains:
  • Business Company News, Oil Mining Resources
  • 25/07/2024
  • 10:55
Jane Morgan Management

Latin Resources Limited (ASX:LRS) Announces Exceptional Results, Confirming Scale and High Grade at Planalto Prospect

Perth, Australia - 25 July 2024| Latin Resources Limited (ASX:LRS) is pleased to announce the latest drilling results from its Planalto Prospect, confirming the presence of a wide, high-grade mineralisation core. These results further establish the potential for increased tonnage at the Salinas Project, bringing it closer to world-class standards. HIGHLIGHTS: Recent drilling at Planalto has identified a thick high-grade core of mineralisation extending down dip and up-plunge to the south-west. Significant intercepts include: SADD320: 16.05m @ 2.18% Li2O from 293.29m, including 9.22m @ 2.54% Li2O from 293.29m and 3.59m @ 2.52% Li2O from 305.14m. SADD322: 13.83m @ 1.09% Li2O…

  • Contains:
  • Finance Investment
  • 25/07/2024
  • 10:32
Fund Recs

ASIC’s New OTC Derivatives Reporting Rules: Are Australian Financial Firms Ready for the October Shake-Up?

As the 21 October 2024 deadline for ASIC’s game-changing updates to over the counter (OTC) derivative transaction reporting looms, regulatory alignment platform Fund Recs…

  • Contains:

Media Outreach made fast, easy, simple.

Feature your press release on Medianet's News Hub every time you distribute with Medianet. Pay per release or save with a subscription.