Name of the Project
Townsville Energy Chemicals Hub (TECH) base metals project.

Location
Queensland, Australia.

Project Owner/s
Queensland Pacific Metals (QPM).

Project Description
Stage 1 of the TECH project has been designed at a nameplate capacity of 1.05-million dry metric tonnes (1.6-million wet metric tonnes) a year over a 30-year design life.

Stage 1 will produce 15 992 t/y of nickel sulphate, 1 746 t/y of cobalt sulphate, 607 395 t/y of hematite pellets, 4 000 t/y of aluminium and 28 856 t/y of magnesium oxide.

Stage 2 is at the same scale as Stage 1, with the same grade of ore being processed.

The combined Stage 1 and Stage 2 operation is expected to produce 32 784 t/y of nickel sulphate, 3 579 t/y of cobalt sulphate, 1.25-million tonnes a year of hematite, 4 000 t/y of aluminium and 59 154 t/y of magnesium. 

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
Stage 1 has a pretax net present value (NPV), at an 8% discount rate, of A$2.67-billion and an internal rate of return (IRR) of 18.4%.

Stage 1 and 2 have a pretax NPV, at an 8% discount rate, of A$4.92-billion and an IRR of 19.7%.

Capital Expenditure
Total capital expenditure (capex), including contingency, for Stage 1 is estimated at A$2.11-billion.

Stage 1 and Stage 2 combined will require an additional A$1.75-billion.

Planned Start/End Date
First production from TECH is scheduled for the fourth quarter of 2024.

Latest Developments
The Queensland government has granted QPM an A$8-million grant to advance TECH towards investment readiness.

Queensland has previously designated it as a prescribed project and a significant investment project.

QPM has said the state government grant satisfies the matched funding condition required under a federal government grant, ensuring that the company can proceed with its development plans without delay.

In April, QPM announced that it would scale back spending on the project, citing challenging market conditions for nickel and battery metals.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
QPM, tel +61 7 3517 590o or email info@qpmetals.com.au.