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Published today (23/12/24) via News Corp Media by TAYLAH FELLOWS

LUCRATIVE VANADIUM PROJECTGIVEN FAST-TRACK TREATMENT

An Australian-first mining proposal that could create up to 1200 jobs in northwest Queensland and generate billions for the state has been put on the government’s fast-track process. The QEM Limited Julia Creek Vanadium and Energy Project, a $1.096bn critical mineral and oil mine proposal, was on Sunday declared a coordinated project by Queensland co-ordinator-general Gerard Coggan in a bid to streamline the environmental assessment and approvals process. It would be the first mining project of its kind in Australia, aiming to produce 10,571 tonnes of high-purity vanadium pentoxide, used to create large-scale alternatives to lithium-ion batteries, and 313 million litres of diesel and aviation fuel each year.

“The Office of the Coordinator-Generalwill oversee the project evaluation by all government agencies, requiring an environmental impact assessment with community consultation,” MrCoggan said.The project is tipped to create 600 construction jobs and 588 mining jobs –35 per cent of which would be offered locally for those based in Julia Creek or nearby towns. Julia Creek is about three hours from the copper, lead and zinc mining hub of Mount Isa.The mine has been proposed to operate for 30 years, with construction able to begin in 2028 and the mine operational in late 2029.

Vanadium would be transported to Townsville to be manufactured into flow batteries. Flow batteries are regarded as superior to lithium batteries due to the ability to store energy for an indefinite period. McKinlay Shire Council Mayor Janene Fegan said the project would bring economic growth to all communities within the region.“ And we are looking forward to it being sustainable,” she said. QEM Limited managing director Gavin Loyden said the project would address both energy storage and domestic fuel security.

“The adoption of vanadium flow batteries is accelerating around the world, and Queensland is uniquely positioned to establish a ‘pit to battery’ manufacturing value chain,” he said. “QEM Limited will expand its participation in this value chain by processing its vanadium pentoxide into vanadium electrolyte for long-duration batteries.

Of note:

• According to September 1/4erly published 31 October 2024 (see attached) not much coin left in the piggy bank…
• JORC (2012) Mineral Resource of 2,870 Mt @ 0.31% V2O5 represents a significant opportunity for development;
• The resource is comprised of 461Mt @ 0.28% V2O5 in the Indicated category and 2,406Mt @ 0.31% V2O5 in the Inferred category; and
• Added benefit of a contingent (SPE-PRMS 2018) in-situ oil resource of 6.3 million barrels (MMbbl’s) of Oil equivalent in the 1C category, 94 MMbbl’s in the 2C category, and 654 MMbbl’s in the 3C category, contained within the same ore body.

Where is this??

• Located approximately 16 km south-east of Julia Creek township in north-west Queensland, within the Tier 1 mining jurisdiction of the North West Minerals Province, regarded as one of the world’s richest mining regions;
• Julia Creek is a regional town situated 655 km by road to the west of Townsville and 255 km east of the mining town of Mt Isa; and
• lies close to main infrastructure facilities, including the $5 billion-dollar Copperstring 2032 powerline project currently being developed by Powerlink, which lies immediately adjacent to the JCP.

Not holding.

Have a safe and happy Christmas

Kind regards
rcw1