- Queensland Pacific Metals’ (QPM) TECH project is now expected to emit 36 per cent less carbon dioxide than the industry average, according to a report by Minirvo
- The emissions count encompasses the mining of ore in New Caledonia, processing of ore to final products, transportation of final products and transportation of reagents required for the project
- The company is now looking at ways to further reduce carbon emissions and is hoping to reach a net-negative level if it can derive a vented or flared gas supply
- CEO Stephen Grocott says the company is “positioning the TECH Project to be a world leader in sustainable nickel production”
- QPM is in the green, up 7.6 per cent, trading at 9.8 cents a share
Queensland Pacific Metals’ (QPM) TECH project is now expected to emit 36 per cent less carbon dioxide than the industry average, according to a report by Minirvo.
The TECH Project is based in Townsville and processes high-grade nickel-cobalt laterite ore imported from New Caledonia to produce battery chemicals for the electric vehicle sector.
QPM commissioned Minviro, an international company specialising in life cycle assessment of mining and mineral processing projects, to prepare an interim report on the project’s green-house-gas (GHG) emissions
The calculation of GHG emissions used a ‘cradle to gate’ approach, which
encompassed mining the ore in New Caledonia, processing it into final products, and the transporting of both the final products and any reagents required for the project.
Minviro’s report calculated the project’s emissions were 3.4 kilograms of CO2 per kilogram of nickel sulfate.
According to calculations by the Nickel Institute, the industry average stands at 5.4 kilograms of CO2 per kilogram of nickel sulfate, which means the TECH projects emissions are 36 per cent lower.
CEO Stephen Grocott said the company has “been positioning the TECH Project to be a world leader in sustainable nickel production.”
Stephen also commented on the results saying, “the Minviro report adds another feather in the cap for the TECH Project, positioning it as a low GHG emissions project with the potential to be net-negative.”
Becoming a net-negative CO2 emitter
The company is now looking at ways to further reduce carbon emissions, in particular through its gas use.
Minviro’s report identified potential ways for QPM to receive further CO2 credits, which has encouraged the company to consider utilising gas in its operations.
By incorporating gas, QPM says it could become a net-negative CO2 emitter depending on the proportion of flared or vented gas and the potential credits it could receive.
Minviro will update its assessment once QPM firms up its gas supply and more information on the production of this gas supply becomes available.
QPM is in the green, up 7.6 per cent, trading at 9.8 cents a share at 10:12 am AEDT.