ALBO,s intention, page-7

Australian Jobs Act 2013

AIP Plan reference code:

AustralianIndustry Participation Plan Summary - Project Phase

Nominated project proponent: TECHNOLOGY METALS AUSTRALIA LIMITED and Australian Vanadium now merged

Project details

Name:Murchison Technology Metals Project

Location:Meekatharra, Western Australia

Type:Mine or quarry

Purpose:Establish new facility

Capitalexpenditure: $500 million - $1 billion

Description:Technology Metals Australia Limited (ASX:TMT) is an ASX-listed company focusedon the exploration and development of its flagship, 100% owned MurchisonTechnology Metals Project (MTM P) located 50km southeast of Meekatharra in theMid-West of Western Australia. The MTMP comprises the **anintha and Yarrabubbavanadium deposits and is one of the highest-grade vanadium projects in theworld with the lowest quartile operating costs once developed. Combined, thetwo vanadium projects contain 153.7Mt at 0.8% V2O5. The completion of theIntegration Study has facilitated the progression of the Implementation Phaseof the MTMP and move the project into development, construction and operation.Vanadium is being increasingly recognised as a critical mineral, with the US,Europe and Australia listing the specialty metal in their Critical MineralsList. While the main use of vanadium is currently in the steel industry, whereit is primarily used in metal alloys such a rebar and structural steel,high-speed tools, titanium alloys, and steel for aircraft and automotiveapplications, an emerging and very significant use for vanadium is the rapidlydeveloping energy storage (battery) sector with the expanding use andincreasing penetration of vanadium redox flow batteries (VRFBs). VRFBs providean efficient storage and re-supply solution for renewable energy – being ableto time-shift large amounts of previously generated energy for later use –ideally suited to micro-grid to large-scale energy storage solutions (gridstabilisation). **anintha forms the core of the Murchison Technology MetalsProject, representing the bulk of the mineral resource and the site of theproposed processing plant and associated infrastructure. Once constructed theMTMP will house a workforce of approximately 350 full time employees.

Completion date: 31 Dec 2025

a little old but considerable Govt committement