Downer Group has signed an agreement with Multicom Resources Limited where Downer will assist in the development of the Saint Elmo Vanadium Project located approximately 25 kilometres east of Julia Creek in the North West Minerals Province of Queensland.

Under this agreement, Downer will also help progress a concept study for the development of vanadium flow batteries.

This collaboration between Multicom Resources and Downer has the potential to progress into a mining services agreement where Downer will provide design and engineering services at the Saint Elmo project.

The services that Downer will be providing will help support Multicom Resources’ development and exploration of high-quality vanadium products that can accommodate the growing demand for V205 to use in the steel manufacturing and energy storage market.

“Multicom is pleased to be partnering with Downer. The partnership will allow Multicom to leverage Downer’s strong relationship and technical capabilities across industries such as manufacturing and mining. Downer can deliver the solution required for Multicom today, with a proven track record in the ability to partner to deliver integrated solutions for tomorrow. This makes Downer the perfect partner for Multicom,” Multicom Chief Executive Officer Shaun McCarthy said.

With the increase global demand for modern commodities such as vanadium, Multicom has been establishing strategic partnerships with institutions across the globe as well as with technology specialists who are looking to using vanadium’s unique properties.

Multicom is currently prompt at progressing the permitting, approval and development of the Saint Elmo project. The company has already submitted the mining lease application and the environmental and pre-feasibility study on the project is at an advanced stage.

“Mining is fundamental to underpinning the sustainable industries and technologies of the future. Downer is committed to being part of a sustainable future and partnering with forward-looking projects. Multicom is at the forefront of new energy developments and we are pleased to be involved with this exciting project,” Downer General Manager Strategy and Growth - Mining East Vikesh Magan said.

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Source: Downer Group