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- Queensland Pacific Metals (QPM) reports its TECH Project as not only net carbon zero but also carbon negative through a recent Life Cycle Assessment (LCA) report
- For every tonne of nickel in nickel sulfate produced, the TECH project reduces greenhouse emissions by 14.9 kilograms of carbon dioxide equivalent
- Annual reduction in Australia’s greenhouse gas emissions, as a result of the project, is estimated at 238,000 tonnes of carbon oxide equivalent
- Based on the planned waste gas sourcing strategy, production from the TECH project will exceed the best environmental alternative for any nickel production around the globe
- On the market this morning, QPM was up 6.98 per cent and is trading at 23 cents per share
Queensland Pacific Metals (QPM) has confirmed its TECH Project is not only net carbon zero but is also carbon negative.
Recently the company undertook a Life Cycle Assessment (LCA) report for the project, which was conducted by leading industry life cycle analysis specialists Minviro.
This marks the TECH Project as the first-ever truly net carbon neutral or net carbon-negative battery-grade nickel manufacturing plant, the company said.
For every tonne of nickel in nickel sulfate produced, the TECH project reduces greenhouse emissions by 14.9 kilograms of carbon dioxide equivalent.
Annual reduction in Australia’s greenhouse gas emissions, as a result of the project, is estimated at 238,000 tonnes of carbon oxide equivalent, which is the same as about 52,000 typical passenger vehicles.
TECH will use waste mine gas from the Bowen Basin which would be either flared or directly emitted to the atmosphere as a fugitive emission of methane, which has a global warming potential factor of 25 times that of carbon dioxide.
Notably, the Bowen Basin includes some of the highest quality metallurgical (steel-making) coal mines in the world.
Based on the planned waste gas sourcing strategy, production from the TECH project will exceed the best environmental alternative for any nickel production around the globe.
Commenting on this news is Managing Director Stephen Grocott.
“For 20 years I have been working on mineral projects that attempt to minimise greenhouse gas emissions. Never have I been able to work on one which can not just reduce, but reverse emissions,” Dr Grocott said.
“Offtakers are demanding strong ESG credentials for battery metal production and QPM ticks all the boxes. The TECH Project will be a global leader in sustainability with net carbon negative nickel production, minimal waste and environmental footprint and developed world labour laws.
“Our goal is to ensure that when our customers are buying our products, they will know that they are the cleanest and most environmentally attractive in the world,” he concluded.
On the market this morning, QPM was up 6.98 per cent and is trading at 23 cents per share at 11:29 pm AEDT.
