QEM Secures $2.05M and Finalizes EIS Terms for Julia Creek Vanadium Project
QEM Limited has appointed Robert Cooper as its new CEO and secured $2.05 million in funding, while progressing key regulatory and technical milestones for its Julia Creek Vanadium and Energy Project.
- Appointment of Robert Cooper as Managing Director and CEO
- Successful $2.05 million placement to support project development
- Queensland Government finalizes Terms of Reference for Environmental Impact Statement
- Cultural Heritage Management Plan agreed with Wanamara People
- Beneficiation test work advances with University of Queensland and Core Resources
Leadership and Capital Injection
QEM Limited has marked a pivotal quarter with the appointment of Robert Cooper as Managing Director and CEO. Bringing over 30 years of global mining experience, Cooper’s leadership is expected to steer the company through critical development phases of its flagship Julia Creek Vanadium and Energy Project (JCVEP). Complementing this leadership change, QEM successfully raised $2.05 million through a strongly supported placement, providing essential capital to advance project activities.
Regulatory Milestones and Environmental Planning
The Queensland Government’s finalization of the Terms of Reference (ToR) for the Environmental Impact Statement (EIS) represents a significant regulatory milestone. This formalizes the framework for assessing the environmental, social, and economic impacts of the JCVEP, a prerequisite for securing Environmental Authority and Mining Lease approvals. Concurrently, QEM has engaged closely with the Wanamara People, culminating in the execution of a Cultural Heritage Management Plan (CHMP), underscoring the company’s commitment to respectful and collaborative development.
Technical Progress and Resource Potential
On the technical front, QEM has advanced beneficiation test work in partnership with Core Resources and the University of Queensland. These studies aim to optimize the separation of vanadium and oil shale components, critical for enhancing project economics and resource recovery. The JCVEP boasts a substantial JORC-compliant mineral resource of 2.87 billion tonnes at 0.31% vanadium pentoxide, alongside a significant contingent in-situ oil resource, positioning it as one of the world’s largest undeveloped vanadium deposits.
Environmental Baseline and Community Engagement
QEM has also conducted baseline groundwater and surface water monitoring to support the EIS process, ensuring environmental stewardship aligns with regulatory expectations. The company maintains a strong presence in the Julia Creek community, actively participating in local events and fostering ongoing dialogue with stakeholders, which is vital for the project’s social license to operate.
Financial Position and Outlook
With exploration expenditure of $478,000 during the quarter and cash reserves of $2.836 million, QEM is positioned to sustain its development activities over the coming quarters. The company’s strategic focus remains on advancing the JCVEP towards production, aiming to become a key supplier of vanadium electrolyte for energy storage and steel industries, aligning with global energy transition trends.
Bottom Line?
QEM’s recent leadership and funding milestones set the stage for critical regulatory approvals and technical breakthroughs in the coming months.
Questions in the middle?
- When will QEM submit the Environmental Impact Statement and what timeline is expected for approvals?
- How will beneficiation test results influence the project’s economic feasibility and production plans?
- What are the next steps in the Cultural Heritage Management Plan implementation with the Wanamara People?
