QEM Limited (ASX:QEM) Secures Key Environmental Approval
Approval Milestone Achieved
Critical minerals explorer and developer QEM Limited (ASX: QEM) has achieved a significant milestone for its Julia Creek Vanadium and Energy Project (JCVEP). The Department of Climate Change, Energy, the Environment and Water (DCCEW) has declared the project as a Controlled Action under the Environmental and Biodiversity Conservation Act 1999 (EPBC Act), enabling a streamlined environmental assessment pathway.
The DCCEW’s decision follows the project’s Coordinated Project status granted by Queensland. The bilateral agreement between the Commonwealth and Queensland Government will expedite the environmental assessment process, reducing duplication and enhancing efficiency.
Next Steps in Environmental Assessment
Currently, the Terms of Reference necessary for the Environmental Impact Statement (EIS) are under development. QEM has been proactive in establishing key environmental baselines and plans to conduct additional technical studies in 2025.
Gavin Loyden, QEM Managing Director, commented, “We welcome this decision by the Commonwealth Government. The company looks forward to the finalisation of the EIS Terms of Reference while conducting the next stage of environmental technical studies required to submit the EIS.” He emphasized the project’s dual nature, addressing both energy storage and fuel security needs.
Job Creation and Project Timeline
The JCVEP is expected to create approximately 600 jobs during the two-year construction period and about 588 permanent jobs upon completion. The company anticipates at least 35% of operational roles will be residential, supporting the local community.
Pending approvals, construction is slated to commence in early 2028, with operational phases beginning in late 2029. QEM is committed to developing the JCVEP as a long-term supplier of vanadium electrolyte for vanadium flow batteries, contributing to a sustainable energy future.
Motley Fool contributor Abbie Stokes 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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