• QPM receives Material Change of Use Development Permit and Environmental Authority for 112MW Isaac Power Station
• Approvals satisfy key project finance conditions, allowing construction to commence
• Project on track to commission IPS around mid-2027

Queensland Pacific Metals Ltd (QPM) has announced that it has received a Material Change of Use Development Permit from Isaac Regional Council and an Environmental Authority from the Queensland Government for the construction and operation of the 112MW Isaac Power Station (IPS). These development and environmental approval milestones, together with the previously announced IPS CPDA grid connection agreement, satisfy key project finance conditions. With these approvals now in place, QPM can commence construction of the IPS upon completion of debt facility documentation and final credit approvals. QPM Energy CEO David Wrench commented that the company looks forward to playing an integral part in Queensland's energy transition and supporting the delivery of the Queensland Government's Energy Roadmap target of 3.6GW of new gas-fired generation by 2035. The conditions associated with the approvals are in line with QPM's expectations and permit construction and operation of the power station with no modifications to the project's current design or operating procedures. The receipt of these approvals is ahead of QPM's planned commencement of construction activities at the Moranbah site, allowing the company to maintain its target of commissioning the IPS around mid-2027.

QPM continues to move quickly towards construction of the 112MW Isaac Power Station, the next major gas-fired power station to be built in Queensland. The company looks forward to playing an integral part in Queensland's energy transition and supporting the delivery of the Queensland Government's Energy Roadmap target of 3.6GW of new gas-fired generation by 2035.