Developers of a vanadium project in the State’s North West, QEM Limited (QEM), are seeking to connect with the proposed CopperString 2.0 high-voltage electricity transmission line to link the North West Minerals Province with the national electricity grid near Townsville.
Mr Gavin Loyden, Managing Director, said QEM plans to develop a mine operation, processing facilities and associated infrastructure to take advantage of the increasing supply gap associated with the global demand for vanadium pentoxide.
“We are encouraged by the fact the vanadium market is predicted to grow steadily due to increasing production of high-strength steel, upward trends with vanadium batteries and the emergence of vanadium in new technologies and that is why Vanadium has been declared a “critical mineral” by Australia, the USA, and Europe,” Mr Loyden said.
Mr John O’Brien, Executive Chairman of CopperString 2.0 proponent CuString Pty Ltd, welcomed the connection enquiry and said that connection to CopperString’s high voltage transmission network could be utilised by QEM to accommodate shortfalls and surpluses in power requirements for their industrial complex.
“QEM is focussed on the exploration and development of its Julia Creek project which sits to the immediate north of the proposed CopperString corridor,” said Mr O’Brien while travelling in North West Queensland on a NQ jobs tour organised by the Climate Council.
“We believe that affordable and reliable electricity delivered by CopperString’s connection to the National Electricity Market will help QEM to fulfill its ambitions and also unlock the globally significant reserves of critical minerals and rare earths in the North West Minerals Province,” Mr O’Brien said.
Mr O’Brien said CopperString 2.0’s potential to connect the Minerals Province with the national electricity grid near Townsville could also harness the incredible A Grade renewable energy resources through the corridor and drive the electrification of global economies as we move towards net zero objectives. CuString continued to work with the Queensland and Australian Governments through bilateral assessment and approval processes for CopperString 2.0, and the recent approval of the transmission authority and Australian Industry Participation Plan were key milestones in the project’s development.