Our Commitment to ESG

Today, we lay the foundations for a long-term development program that will ensure QEM’s Julia Creek Project and future production activities place the company at the forefront of being environmentally and socially responsible in the mining and energy industry.

Our mission is to operate in the safest and cleanest way possible while providing strong and sustained value to our shareholders.

QEM recognises that mining and metals are critically important to the North West Queensland Minerals Province (NWMP) – from supporting the promotion of sustainable economic growth and the building of a resilient and inclusive community in Julia Creek and across North Queensland, to enabling the innovations needed to address the urgency of climate change – but they must be produced responsibly.

QEM believes that integrating positive environmental, social, and governance qualities with rigorous, fundamental financial diligence is key to delivering long-term risk adjusted performance. It is fundamental to our mission and fiduciary responsibility to proactively seek opportunities for positive change in matters of ESG concern, which we believe will in turn enhance shareholder value.

Our associated green hydrogen strategy will enhance QEM’s dual commodity vanadium and oil shale Julia Creek Project. The Australian Energy Market Operator recently announced that the corridor between Townsville and the NWMP contains Eastern Australia’s best co-located wind and solar resources and gave both an ‘A’ rating, the only region in Australia to achieve this. DNV Australia has undertaken assessment work, including preliminary mapping and modelling of solar and wind resources, which indicate that both are conceptually suitable sources of power generation at the Julia Creek Project. Further solar and wind farm optimisation studies will commence in late 2021 to allow final assessment of the most suitable solution of the proposed power generation development.

With sustainable mining always at the forefront of our strategy, QEM is excited about developing a green-fuelled vanadium industry in Queensland.

Our Sustainability Priorities

QEM is focused on continual assessment and strengthening of its environmental and community engagement strategies. We commit to operating not only within Queensland and Australia’s reputable environmental and safety frameworks, but also following the Queensland Government’s clear legislative framework to work in partnership with Traditional Owners to preserve and protect cultural heritage.

We have respect for all stakeholders and conduct business honestly and transparently with a professional approach to all areas of our business. We thoroughly believe that we have an important part to play in making a positive difference in our community. Furthermore, QEM’s innovative and environmentally sustainable solutions are important to Queensland’s energy and minerals future and to unlock long-term career opportunities in North-West Queensland.

            QEM is particularly encouraged by the Queensland Government’s initiatives in developing a local, sustainable vanadium industry to support Queensland’s new energy economy. QEM’s Julia Creek project sits on one of the world’s largest vanadium deposits and could support long-term job growth in regional Queensland as we see the industry rapidly relying on this strategic metal as a key input into the steel and renewable energy storage markets through the use of vanadium re-dox flow batteries (VRB), the preferred solution for large grid scale storage.

Environmental

  • Low carbon footprint
  • Utilises renewable energy sources
  • Target products such as V2O5 & hydrogen to support emission reduction targets

Governance

  • Dedicated to corporate transparency
  • Critical Minerals Traceability and Provenance. Ethically sourced
  • Support for women in leadership roles and WIMARQ GC Sponsor
  • Management aligned with shareholders

Green Hydrogen and QEM’s Opportunity

Green Hydrogen is pure hydrogen produced using renewable energy sources such as wind or solar power. The wind or solar panels are used to generate electricity for electrolysis of water, rather than a chemical process that creates carbon emissions.

‘A’ grade wind and solar resources in Northern Queensland provide a competitive advantage over other potential development regions for renewable energy and hydrogen production. QEM is well positioned to produce green hydrogen at the Julia Creek project site, due to its optimal location for renewable energy generation.

It is envisioned that this hydrogen could be utilised within the QEM Julia Creek project for the upgrading of raw hydrocarbons into useful transport fuels, with the additional benefit of potentially creating a hydrogen hub for the North West Minerals Province, to align with government’s Clean Energy Corridor proposal, stretching between Mount Isa and Townsville in North Queensland.

Corporate Governance

The QEM Limited Board of Directors has established a corporate governance framework, policies and charters, to support its commitment to the highest standards of corporate governance.

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