Please be aware that the information provided is a summary of select releases made to the ASX, as evaluated and interpreted by ASX Briefs. It is important to thoroughly read the entire original release before forming an opinion, rather than relying solely on the brief overview presented here. ASX Briefs is not associated with the ASX. ASX Briefs is an experimental AI project incorporating chatGPT, and as such, does not guarantee the accuracy of the information provided.
Queensland Pacific Metals Limited (QPM) subsidiaries are acquiring 100% of assets from the Moranbah Gas Project in a transaction that includes long-term, economically sustainable gas supply for the TECH project.
The acquisition contributes to the TECH project's sustainability target with negative 989,000 CO2e emissions per annum.
QPM will receive $35 million as consideration for assuming obligations to supply gas under the Moranbah Project contracts, with the transaction closing around June/July 2023.
Queensland Pacific Metals Limited (ASX: QPM) has been awarded Significant Investment Project status for the TECH Project at Lansdown.
The Queensland Government's Significant Investment Facilitation program is designed to support projects of economic significance to the State.
QPM’s Managing Director and Chief Executive Officer, Dr Stephen Grocott, expressed his delight in receiving the designation and looks forward to working with the steering committee to secure investment in the project.