QEM Limited (ASX:QEM) Achieves Coordinated Project Status
Project Approval Milestone
QEM Limited (ASX: QEM) has announced a significant milestone, as its Julia Creek Vanadium and Energy Project (JCVEP) has been declared a ‘Coordinated Project’ by Queensland’s Office of the Coordinator General. This status acknowledges the project’s complexity and potential economic benefits, streamlining the regulatory approval process.
Environmental Impact Considerations
The declaration enables the assessment of an Environmental Impact Statement (EIS) under the State Development and Public Works Organisation Act 1971. QEM has already conducted extensive environmental baseline studies over the past 24 months as part of the EIS preparation. Public comments will be invited once the draft Terms of Reference are released.
Executive Insights
Gavin Loyden, Managing Director of QEM, highlighted the project’s dual focus on energy storage and fuel security. He stated, “The adoption of vanadium flow batteries is accelerating around the world, and Queensland is uniquely positioned to establish a ‘pit to battery’ manufacturing industry.”
Job Creation and Future Outlook
The JCVEP is expected to create approximately 600 jobs during its two-year construction phase and around 588 permanent roles during operations. Construction is slated to begin in early 2028, with operation anticipated to start in late 2029. Tim Wall, QEM’s Chair, welcomed the Queensland Government’s support for mining opportunities and regional development.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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