Critical Minerals Group tapping into global battery partners 

Critical Minerals Group (ASX:CMG) is looking towards Australia, the US, and Europe for potential offtake partners to ship a planned vanadium electrolyte product from its Lindfield Vanadium and High Purity Alumina Project in Queensland, says Managing Director Scott Winter. 

Speaking to on the sidelines of this year’s Brisbane Mining and Investors Conference, Winter explains both state and federal parties in Australia, including councils and governments, as well as those with a “tried and proven” record, are the most attractive prospects.  

“A longer term offtake gives the company stability on price and supply and then underwrites sourcing debt financing for the construction or growth plans that we have. We’re not ruling out anything.” 

The construction plans Winter alludes to is the construction of an electrolyte manufacturing facility, ideally in Brisbane, in the next 12 months. 

When asked what else the market can expect from the company in this time frame, Winter hopes to see the near completion of a Definitive Feasibility Study (DFS) for the company’s Lindfield Project in Queensland. 

Winter’s comments came ahead of Critical Minerals Group yesterday (14 March 2024) awarding a contract to minerals and infrastructure provider, Sedgman, to complete the DFS, which will begin this month. 

The MD states the DFS for Lindfield will provide good capital, and a good pathway to a financial decision on the development of that project. 

Once all systems, processes, and initiatives are in place, Winter says the company will be positioned as a “prime” producer of electrolyte in the battery manufacturing space, which is what he showcased to a wave of Brisbane-based investors earlier this week.

“We made it really clear that we are a participant in the battery storage space. We have a vanadium deposit, but we also really want the market to know that we are a vanadium electrolyte producer. That’s our end game. 

These batteries are being implemented across the world today and their growth rate is significant. We are positioned very well within the next 12 months to show that we are a producer of a battery product to service that growth.”

Critical Minerals Group is a vanadium company focused on its flagship Lindfield Project in Queensland, Australia. The company aims to develop and produce mineral deposits that will enhance the global energy transition. 

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Images: Critical Minerals Group
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.