Technology Metals Ltd (ASX:TMT) has passed a key milestone with the high-grade, low-cost, large-scale, long-life Gabanintha Vanadium Project (GVP) in the Mid-West region of Western Australia assessed as a Lead Agency Project.
This assessment by the WA Department of Mines, Industry Regulation and Safety’s Lead Agency Framework is recognition of the importance of the world-class GVP.
It is in line with the Western Australian Government’s support for critical minerals projects as part of its 'Future Battery Industry Strategy'.
Expected to generate benefits
The GVP is expected to generate significant economic and social benefits for the Mid-West region, the state of WA and the nation over a long period of time.
This status results in a principal policy officer being assigned to assist the company with key approvals advice as well as in the coordination of project approvals across government.
Milestone for TMT
Lead Agency recognition is an important milestone for Technology Metals as it will assist in maintaining momentum for the progression of project approvals.
All approvals and authorisations for the project are managed by the State of Western Australia, underlining the importance of achieving State Lead Agency support.
Underpinning the importance of developing the GVP are:
- The production of a critical mineral with a vital role to play in the efficient and effective deployment of renewable energy;
- Construction of a gas pipeline into the Mid-West region, which would be expected to generate significant third party benefits; and
- Ongoing engagement with NAIF in regard to funding support for infrastructure in Northern Australia.
The company looks forward to working closely with the Lead Agency team, NAIF and other key government and non-government agencies and stakeholders to progress the development of the GVP.