The Queensland Government has made the Richmond-Julia Creek Vanadium Project a "coordinated project" which should ease the path to future approvals.
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The 1.8 billion tonne Richmond-Julia Creek Vanadium Project is considered "world class" with a completed Pre-Feasibility Study and is the first critical minerals project in Queensland to gain the coordinated project status.
Former Western Australian MP and senior cabinet minister Brendon Grylls has appointed as its Non-Executive Chair with progress towards Initial Public Offering and Australian Securities Exchange listing in 2022 on schedule.
In Queensland, a coordinated project has complex approval requirements, significant environmental effects, strategic significance to the locality, region or state, capital investment and employment opportunities and significant infrastructure requirements.
The Office of the Coordinator-General facilitated the approval process of the declaration of the project.
The project has a completed Pre-Feasibility Study which demonstrated a technically viable and financially attractive development project with work progressing towards a Bankable Feasibility Study.
Horizon Mining Limited have signed a Sale & Purchase Agreement and following completion of the sale in the June Quarter 2022 Richmond Vanadium Technology will own 100% of the project.
Richmond Vanadium CEO Dr Shaun Ren said the IPO and ASX listing was taking shape.
"We have an experienced and knowledgeable team to lead RVT and we look forward to delivering value from this project as we continue to progress its development via a Bankable Feasibility Study," Dr Ren said.
Mr Grylls said they were building momentum in the highly-important critical minerals sector in Australia.
Vanadium is an emerging green energy storage mineral with the globally significant project included in the Federal Government's Critical Minerals Prospectus 2020.
Richmond Vanadium Project is one of several major vanadium projects planned for the Julia Creek - Richmond corridor with Multicom's Saint Elmo the most advanced, with a mine getting the go-ahead in September.
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