Today, we lay the foundations for a long-term development program that will ensure QEM’s Julia Creek Project and future production activities place the company at the forefront of being environmentally and socially responsible in the mining and energy industry.
Our mission is to operate in the safest and cleanest way possible while providing strong and sustained value to our shareholders.
QEM recognises that mining and metals are critically important to the North West Queensland Minerals Province (NWMP) – from supporting the promotion of sustainable economic growth and the building of a resilient and inclusive community in Julia Creek and across North Queensland, to enabling the innovations needed to address the urgency of climate change – but they must be produced responsibly.
QEM believes that integrating positive environmental, social, and governance qualities with rigorous, fundamental financial diligence is key to delivering long-term risk adjusted performance. It is fundamental to our mission and fiduciary responsibility to proactively seek opportunities for positive change in matters of ESG concern, which we believe will in turn enhance shareholder value.
Our associated green hydrogen strategy will enhance QEM’s dual commodity vanadium and oil shale Julia Creek Project. The Australian Energy Market Operator states that the corridor between Townsville and the NWMP contains Eastern Australia’s best co-located wind and solar resources and gave both an ‘A’ rating, the only region in Australia to achieve this. In 2021, DNV Australia undertook preliminary mapping and modelling of solar and wind resources, which indicated that both are conceptually suitable sources of power generation at the Julia Creek Project. Further solar and wind farm optimisation studies commenced in late 2021 by GHD who completed a renewables PFS to determine the most suitable solution for the proposed power generation development.
An 163m tall Meteorological Mast was commissioned in Julia Creek in July 2022 to accurately record wind speeds and wind conditions for the area. The data captured by the meteorological mast will provide QEM with enough recorded data to complete the bankable/definitive feasibility study for the renewables project. QEM intends to share the data gained from the Met Mast, and Sodar and Solar Monitoring station (installed onsite mid-May 2022) with the Bureau of Meteorology, McKinlay Shire Council and the Julia Creek Aerodrome. To date, the recorded data reveals higher than expected results in the region.
With sustainable mining always at the forefront of our strategy, QEM is excited about developing a green-fuelled vanadium industry in Queensland.