Zeotech (ASX:ZEO) has secured funding from the Queensland Government’s Mining Equipment, Technology, and Services Collaborative Project Fund to advance the Toondoon Kaolin Project and high reactivity metakaolin production.
After conducting a comprehensive assessment of the company’s application, the Queensland Government awarded Zeotech matched funding of $145,000 for a total project value of $290,000 to support the completion of a preliminary Feasibility Study and front-end engineering design study.
Zeotech, which has a market capitalisation of $111.22 million, will collaborate with privately held building materials company Holcim.
Holcim’s involvement includes supporting the study through industry expertise, as well as evaluating the performance of Zeotech’s high reactivity metakaolin (HRM) product in concrete trials.
Zeotech CEO James Marsh says the funding will support expediting the work program underway that aims to deliver the PFS on schedule by the second quarter of 2025.
“The awarded METS funding for the advancement of the Toondoon Kaolin Project and metakaolin production PFS and initial FEED study further validates the important collaboration we have with the Queensland Government, who are proactively engaged in progressing industry solutions for global carbon reduction,” Marsh says.
Zeotech notes the funding will be allocated toward eligible expenditure associated with the study that will advance development of its approved Toondoon mining lease and the commercial readiness of a HRM production facility for low-carbon cement and concrete.
The government’s fund supports METS resource companies, subject matter experts, researchers and government agencies to innovate and collaborate to develop projects that address environmental and safety challenges facing the resources sector.
Kaolin is a soft white clay that is an essential ingredient in the manufacture of china and porcelain. It is widely used in making paper, rubber, and paint, among other products.
Zeotech is a kaolin-focused resources company that aims to produce advanced materials for greenhouse gas mitigation, such as zeolites for fugitive methane control and high reactivity metakaolin for the low-carbon concrete market.
Write to Aaliyah Rogan at Mining.com.au
Images: Zeotech
