Critical Minerals Group (ASX – CMG) reports significant progress in vanadium flow battery technology deployment, international supply chain engagements, and mine feasibility studies, positioning itself at the forefront of Australia’s renewable energy storage future.
- International supply chain engagements with VFB manufacturers in Japan, Scotland, and China
- Expression of Interest submitted for a major renewable energy precinct project in Victoria
- Feasibility study confirms hybrid renewables with vanadium flow battery as lowest-cost power solution at Julia Creek mine
- Vanadium electrolyte manufacturing facility development advances with government and industry support
- Quarterly exploration expenditure of $303K and corporate costs of $949K, ending with $924K cash reserves
Global Supply Chain Engagements
Critical Minerals Group Limited (CMG) has taken decisive steps this quarter to solidify its position in the vanadium flow battery (VFB) sector by engaging with key international players. The company’s team visited manufacturing facilities and large-scale installations across Japan, Scotland, China, and South Australia, including notable sites such as the 100MW/400MWh Rongke VFB in Dalian and the 2MW/8MWh Yadlamalka installation. These visits underscore CMG’s commitment to understanding and integrating proven VFB technologies into the Australian market.
Strategic Market Positioning
In line with Australia’s accelerating renewable energy transition, CMG has submitted an Expression of Interest (EOI) to a major Australian gentailer for deploying VFB technology at a new renewable energy precinct in Victoria. This project, expected to require over 10MW of storage capacity, highlights the growing demand for long-duration energy storage solutions that can address grid reliability challenges caused by the intermittent nature of solar and wind power.
Advancing Domestic Manufacturing Capability
CMG is progressing the development of a vanadium electrolyte manufacturing facility in Queensland, a critical component for VFBs. The company recently hosted a virtual tour of the facility with local government representatives and industry partners, showcasing advanced design and engineering efforts. This facility aims to establish a domestic supply chain for vanadium electrolyte, reducing reliance on imports and supporting Australia’s energy security ambitions.
Upstream Mine Development and Feasibility
On the upstream front, CMG’s Julia Creek mine project continues to advance with a completed feasibility study demonstrating that a hybrid renewable power system combined with VFB technology offers the lowest whole-of-life cost and highest renewable energy penetration; up to 75.5%. Metallurgical test work is ongoing to optimize reagent consumption and water recovery, while environmental impact assessments are underway in preparation for regulatory approvals.
Financial and Corporate Overview
Financially, CMG reported exploration expenditure of $303,185 and corporate costs of $948,783 for the quarter, including salaries and director fees. The company ended the period with $924,000 in cash reserves, maintaining a stable financial position to support ongoing project development. CMG also completed its FY25 reporting suite, including the Annual and ESG reports, reinforcing its commitment to transparency and sustainability.
Bottom Line?
As CMG builds its vanadium battery ecosystem from mine to market, upcoming regulatory approvals and contract awards will be pivotal in defining its growth trajectory.
Questions in the middle?
- When will CMG secure formal contracts following its Expression of Interest for the Victorian renewable precinct?
- How will ongoing metallurgical optimizations impact the cost and scalability of vanadium production at Julia Creek?
- What are the timelines and capacity targets for the vanadium electrolyte manufacturing facility in Queensland?