Richmond Vanadium Technology Marks New Milestone At Namesake Project In Queensland

Richmond Vanadium Technology Ltd (ASX:RVT) (RVT) has confirmed that the Richmond Vanadium Project’s Terms of Reference (TOR) for an Environmental Impact Statement (EIS) has been finalised by the Queensland Government.

The release of the TOR allows RVT to formally begin the development of the EIS for the Richmond Vanadium Project.

RVT has appointed Epic Environmental to complete the EIS with the scope of works including the provision of an EIS and associated approvals as part of the project.

The scope also includes the delivery of an Environmental Authority and Progressive Rehabilitation and Closure Plan to support a future Mining Lease grant for the project.

The EIS will be undertaken in parallel with the Bankable Feasibility Study (BFS) for the project.

RVT is targeting completion of the EIS by Q4 2024.

“Another important milestone”

RVT chief executive officer Dr Shaun Ren said: “This is another important milestone for RVT as we work towards completing the BFS and EIS for the Richmond Vanadium Project in 2024.

“The RVT team has worked extremely hard in preparation for the development of the EIS, including the recent appointment of Epic to lead the program.

“We look forward to accelerating work on the EIS as we target its completion next year.”

Terms of Reference

According to the Queensland Government, if a project is declared a coordinated project requiring an EIS the project proponent must prepare an EIS that provides:

A detailed description of the proposed project

all relevant environmental, social and economic impacts of the project; and

an assessment of the management, monitoring, and other measures proposed to avoid, minimise and/or mitigate any adverse impacts of the project.

To enable the project proponent to do this the Queensland Government’s Coordinator-General prepares TOR that set out the matters they must address when preparing the EIS.

Prior to the Coordinator-General finalising the TOR for a project, state government advisory agencies are invited to comment on whether the draft TOR adequately covers all matters the project proponent must address when preparing the EIS.