The buzz around vanadium continues in North West Queensland with QEM advancing its proposed vanadium project near Julia Creek.
QEM has teamed up with DNV Australia to conduct a pre-feasibility study into generating power from solar and wind farms as it assesses the green hydrogen potential at its flagship Julia Creek vanadium and oil shale project.
QEM has also signed a project execution strategy agreement with Siecap which will allow Siecap to support the progression of the pre-feasibility study.
It follows news that the Federal environment department has given the tick of approval to Multicom's nearby Saint Elmo project with vanadium seen as a key resource in renewable battery storage.
This 250-square-kilometre QEM project has a JORC 2012 mineral resource of 2.76 billion tonnes at 0.3 per cent vanadium pentoxide and is one of the single largest ASX-listed vanadium resources - representing a significant opportunity.
DNV is a major technical consultancy which will use its expertise to also develop a preliminary wind turbine layout and assess wind farm resource mapping and modelling.
The wind portion of the PFS will help QEM evaluate how wind and solar work at the site as potential renewable energy sources for an electrolyser to produce hydrogen.
"Engaging DNV demonstrates that we are swiftly laying the foundation for green hydrogen opportunities at Julia Creek," QEM Managing Director Gavin Loyden said.
QEM engaged E2C Advisory to investigate the capital and operating costs required to produce green hydrogen by using a solar-powered electrolyser at Julia Creek.
An electrolyser uses electricity to break water into hydrogen and oxygen through the electrolysis process.
The PFS is expected to be completed by the end of the second quarter and will be followed by more wind resource measurements and solar resource monitoring.
Meanwhile specialist project management consultant Siecap will take a management role at QEM to develop an execution strategy for the mining, extraction, processing and export of vanadium pentoxide, transport fuels and green hydrogen.
The Julia Creek project, covering 250 square kilometres offers the potential to deliver energy solutions through the production of energy fuels and vanadium pentoxide.
Mr Loyden said this agreement would streamline their broader business strategy.
"With the continued progression of our Julia Creek vanadium and oil shale project and green hydrogen strategy,," he said.
"Siecap has a deep knowledge of the sector and policy environment QEM operates in, making them the optimal choice to assist us in successfully executing this."
Siecap will also be responsible for co-ordinating grants and advancing the funding application process for QEM.
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