Business
24 September, 2025
Major setback for Julia Creek vanadium project
A scoping study released last year is now invalid, the fledgling company told shareholders.
Vanadium mining hopeful QEM says it is reviewing its flagship Julia Creek Vanadium and Energy Project after flawed test results from its 2024 scoping study.
In an announcement to shareholders, QEM said the scoping study was revised under the influence of "new insights" which was revealed by test work undertaken by the University of Queensland.
QEM said that kerogen recovery by flotation for vanadium extraction was not "technically or economically feasible".
“While we are disappointed with the results of this test work, we consider that in the context of depressed vanadium prices, that it also presents the perfect opportunity for QEM to undertake a strategic review process as we look to pursue future opportunities," QEM chief executive officer Rob Cooper said.
QEM told the ASX that the outcomes of the scoping study should no longer be relied upon.
It said it would now undertake further review of flowsheet options and mineral associations before progressing additional metallurgical testing.
QEM chair Tim Wall said the company would continue to try and find value.
“At the time the scoping study was completed, further comprehensive test work was earmarked to be undertaken in order to validate the existing assumptions and the steps in the flowsheets," he told shareholders.
“Unfortunately, the outcome of those tests was not what we had hoped for.
“I nevertheless remain optimistic about the future of QEM and intend to work closely with Rob and the broader team during the strategic review process.”