QEM to progress environmental assessment for Julia Creek vanadium and energy project

QEM can proceed with an environmental impact statement for its Julia Creek project in Queensland after receiving the finalised terms of reference.

QEM can now progress the Julia Creek environmental impact statement. Pic: QEM

Special Report: QEM can progress the environmental assessment for its Julia Creek vanadium and energy project after the Queensland Government finalised the terms of reference for an environmental impact statement. 

• QEM receives finalised terms of reference for Julia Creek environmental impact statement
• TOR provides company with clear roadmap to develop robust EIS for the project
• EIS workstreams can be carried out concurrently with planned pre-feasibility study

The finalised TOR outlines the scope and requirements for the EIS, enabling QEM to begin preparations which can be carried out concurrently with its pre-feasibility study.

EIS documents need to provide a detailed description of the proposed project, all relevant environmental, social and economic impacts, and an assessment of the management, monitoring and other measures proposed to avoid, minimise and/or mitigate any adverse impacts.

QEM’s (ASX:QEM) recently appointed chief executive officer Rob Cooper said finalisation of the TOR was an important milestone for Julia Creek as it provided the company with a clear roadmap to develop a robust EIS that ensured the project met the highest environmental and community standards.

“QEM is committed to advancing the JCVEP responsibly while contributing to Queensland’s critical minerals sector and the global energy transition,” he added.

Julia Creek

Julia Creek consists of four granted exploration permits covering ~250km2 including the vast Toolebuc Formation and hosts one of the world’s largest co-located vanadium and oil shale resources.

It has a resource of 2.87Bt of ore at 0.31% vanadium pentoxide, which includes an indicated resource of 461Mt at 0.28% V2O5m, along with a best estimate (1C) contingent oil equivalent resource of 94 million barrels.

Vanadium demand has been growing steadily due to its use in steel production and vanadium redox flow batteries for grid-scale energy storage while oil remains a valued commodity.

The August 2024 scoping study highlighted a 30-year mine schedule with a production target of approximately 10,571 tonnes of vanadium pentoxide (99.95% pure) and 313 million litres of transport fuel per annum over the life of mine.

Its potential scale has been recognised by the Queensland Government, which granted a ‘Coordinated Project Declaration’ in December 2024 that will streamline the entire approvals process, making it easier and faster to get through regulatory requirements while still meeting environmental and community standards.

The project is also situated less than 16km from the Julia Creek township, which is a hub for the surrounding agricultural and mining activities and is accessible via the Flinders Highway, rail and Julia Creek airport.

This article was developed in collaboration with QEM Limited, a Stockhead advertiser at the time of publishing. 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as QEM to progress environmental assessment for Julia Creek vanadium and energy project