Queensland Pacific Metals Limited
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Why has QPM Energy executed an Indigenous Land Use Agreement?
Queensland Pacific Metals Limited (ASX: QPM) has announced that its wholly owned subsidiary, QPM Energy (QPME), has executed an Indigenous Land Use Agreement ("ILUA") with Traditional Owners, Widi Aboriginal Corporation. This agreement allows QPME to proceed with the development of its Northern Hub in the Northern Bowen Basin region of Queensland.
What is QPME's plan for the Northern Hub?
QPME's Northern Hub is situated in an area that is known to contain high volumes of gas. The company plans to develop new infrastructure at this site to collect additional waste gas and significantly grow production. The hub will collect waste gas from coal mines north of existing operations and connect it into the existing QPME system.
What does the Indigenous Land Use Agreement entail?
As part of the ILUA, QPME has committed to providing employment, education, and training opportunities for the Widi People. The agreement also meets the requisite Native Title requirements for QPME's development in the area.
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QPME has obtained an Environmental Authority from the Queensland government for the Northern Hub development, and federal regulatory approvals are in the final stages of conditioning.
What is the significance of the ILUA?
The signing of the ILUA is a significant milestone for QPME. It allows the company to proceed with the development of the Northern Hub and ensure that Traditional Owners are included in the process. The Widi People welcome and support QPM Energy's developments and endorse the company's carbon abatement strategy, which seeks to minimize the effect of waste gas on the environment and the land around them.
What is next for QPME?
Upon receipt of approvals, QPME will be well-positioned to develop new infrastructure at the Northern Hub and connect additional waste gas to their existing system. The success of this project will allow QPME to significantly grow production and achieve their goals of carbon abatement while providing new economic opportunities for the Widi People.
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