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Queensland Pacific Metals (ASX:QPM) - MD, John Downie (left) and CEO, Stephen Grocott
MD, John Downie (left) and CEO, Stephen Grocott
Source: QPM
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  • Queensland Pacific Metals (QPM) has received excellent nickel-cobalt mixed hydroxide precipitate (MHP) assay results from its TECH Project in Townsville, Queensland
  • The project aims to be a sustainable producer of critical chemicals for the lithium-ion battery and electric vehicle sector
  • Pilot test work at the site has returned results including 47.6 per cent nickel, 8.6 per cent cobalt, 0.81 per cent magnesium and 0.33 per cent manganese
  • Experts have confirmed TECH’s assay results are in line with leading MHP products sold worldwide
  • Increasing demand for MHP has seen benchmark prices rise from approximately 70 per cent of the LME nickel price to 84.5 per cent
  • The TECH Project will sell nickel and cobalt sulphate as a value-add product
  • Queensland Pacific Metals shares are in the grey, last trading at 9.4 cents each

Queensland Pacific Metals (QPM) has received excellent nickel cobalt mixed hydroxide precipitate (MHP) assay results from its TECH Project in Townsville, Queensland.

The project aims to be a sustainable producer of critical chemicals for the lithium-ion battery and electric vehicle sector.

Pilot test work at the site has returned assay results including 47.6 per cent nickel, 8.6 per cent cobalt, 0.81 per cent magnesium and 0.33 per cent manganese, among other elements in lesser quantities.

Following the assays, Queensland Pacific Metals consulted experts in MHP production and refinement into nickel and cobalt sulphate. The experts have confirmed that the assay results are in line with leading MHP products sold worldwide.

With low capital and operating costs, MHP is a preferred nickel feed source for refining nickel sulphate.

However, a limited supply in the global market has led some sulphate producers to supplement their feed with nickel metal.

According to QPM, historically, MHP previously sold for around 70 per cent of the LME nickel price but — given rising demand — analysts at Benchmark Minerals have reported increased playability up to 84.5 per cent for quality MHP in the December 2020 quarter.

Queensland Pacific Metals intends for its TECH Project to sell nickel and cobalt suphate as a value-add product.

Queensland Pacific Metals shares are in the grey, trading at 9.4 cents at 10:05 am AEDT.

QPM by the numbers
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