- Clean TeQ (CLQ) is continuing to progress its Sunrise Battery Materials Complex in New South Wales, Australia
- Clean TeQ has expanded its exploration footprint and the site with a new exploration property
- Clean TeQ and Fluor Australia are currently developing the site’s execution plan, which is expected by the end of the quarter
- Further, Clean TeQ is conducting an environmental assessment of the Sunrise project to quantify its lifetime greenhouse gas impacts
- Clean TeQ (CLQ) is up eight per cent and is trading at C$0.13 per share
Clean TeQ (CLQ) is continuing to progress its Sunrise Battery Materials Complex in New South Wales, Australia.
The company has called Sunrise one of the largest and most cobalt-rich laterite despots in the world. Once built, the project will become a globally significant nickel and cobalt sulphate producer.
Nickel sulphate and cobalt sulphate are key to producing the cathodes used in electric vehicle batteries.
Clean TeQ claims the Sunrise project is one of the most significant scandium deposits globally and believes the project strategically positions the company as a major supplier of low-cut, high quality scandium for the aerospace and automotive markets.
Clean TeQ has been working with Fluor Australia, the Australian subsidiary of Texas’s Fluor Engineering Group.
Sunrise is currently developing the site’s execution plan, which includes a detailed estimate of the capital development costs, along with a revised master schedule. The project’s execution plan is expected to be completed by the end of this quarter.
Currently, Clean TeQ is conducting an environmental Life Cycle Assessment of the Sunrise project to quantify its lifetime greenhouse gas impacts.
The company is also hoping to determine the metallurgical processes used for nickel and cobalt recovery, and what effect those geochemical processes will have on the environment.
Further, during the quarter Clean TeQ picked up another based metals license for exploration lease 8961. The company has also applied for an area adjacent to the 8961 exploration lease.
Clean TeQ (CLQ) is up eight per cent and is trading at C$0.13 per share at 12:25 pm EDT.