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Currie Rose Welcomes Queensland Government Investment into CopperString 2032 Project Incorporating Vanadium Battery Technology
Toronto, Ontario--(Newsfile Corp. - June 27, 2023) - Currie Rose Resources Inc. (TSXV: CUI) (" ...
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[{"type":"text","content":"Currie Rose Welcomes Queensland Government Investment into CopperString 2032 Project Incorporating Vanadium Battery TechnologyToronto, Ontario--(Newsfile Corp. - June 27, 2023) - Currie Rose Resources Inc. (TSXV: CUI) (\"Currie Rose\" or the \"Company\") is pleased to share the Queensland Government decision to invest $5 billion in a 1,100km transmission line from Townsville to Mount Isa, connecting Queensland's North West Minerals Province to the national electricity grid. The Project, known as CopperString 2032, will connect renewable resources with regional critical minerals mining and processing. The construction is expected to start in 2024 and be completed by 2029. To meet the state's renewable energy quotas, Energy Queensland will trial vanadium battery technology, using vanadium electrolytes produced by Vecco Group, which just opened their $26 million manufacturing facility in Townsville supported through the Queensland Jobs Fund. Energy Queensland's deal with Vecco and Sumitomo Electric for a vanadium battery trial is a great testament to the rise of the vanadium use in the renewable energy industry. Scott Stewart, Townsville MP and Minister for Resources, commented: \"There is enormous potential for vanadium mining and production in North Queensland as demand for vanadium batteries continues to rise, and we create a whole supply chain across North Queensland.\"\"CopperString 2032 will be connected to the Queensland SuperGrid, the nation's largest energy grid, meaning that wherever energy is generated - we can capture it, send it, store it, and use it wherever is needed,\" said Mick de Brenni, Minister for Energy, Renewables and Hydrogen.Vanadium batteries offer a longer lifespan (up to 20 years) compared to lithium-ion batteries, with a much higher number of charging and discharging cycles and lower rates of degradation over time. They are also almost fully recyclable. Currie Rose's North Queensland Vanadium Project (\"NQVP\") covers approximately 1,250 km2 in northwest Queensland, along the Flinders Highway between Julia Creek and Richmond, about 500 km southwest of Townsville. The CopperString infrastructure will be within 35 km of the Company's flagship Cambridge Vanadium Deposit. NQVP hosts NI 43-101 compliant Indicated Cambridge Resource of 61.33 Mt @ 0.34% V2O5 and Inferred Resource of 144.87 Mt @ 0.33% V2O5 as w...