QPM Energy (formerly Queensland Pacific Metals)

The plant, called the Townsville Energy Chemicals Hub (TECH Project), would process imported high-grade laterite ore from New Caledonia into nickel sulfate and cobalt sulfate for EV batteries, with nameplate output of 16,000 t of nickel and 1,850 t of cobalt a year, plus high-purity alumina and other co-products. QPM says it has offtake agreements for all its nickel and cobalt, and General Motors, LG Energy Solution and POSCO are both offtakers and shareholders. A feasibility study is under way.

The 2025 Battery Report shows QPM in the Ni, Co Chemical box of its map of emerging players valued above $30 million.