Queensland Pacific Metals

Ore Supply Agreement Executed With SMGM

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to announce that it has entered into a binding ore supply agreement (“Agreement”) with SMGM.


Highlights

  • Binding ore supply agreement entered into with Société Minière Georges Montagnat (“SMGM”), a significant New Caledonian mining company, for up to 200,000 wmt per annum.
  • Targeting a typical limonite ore specification of 1.5% Ni and 0.18% Co.
  • Ten year ore supply term.
  • Additional diversification to existing ore supply agreements with Société Le Nickel (“SLN”) and Société des Mines de la Tontouta (“SMT”).
SMGM was one of the original supporters of QPM and the TECH Project and QPM is delighted to have formalised this agreement with SMGM. QPM previously had its ore supply tonnage covered in contracts with SLN (see ASX announcement 1 March 2022) and SMT (see ASX announcement 2 June 2022). However, this agreement with SMGM adds further diversification to QPM’s ore suppliers, providing additional comfort to financiers with regards to security of ore supply.

QPM Managing Director Dr Stephen Grocott commented,

“I am pleased to enter into this agreement with SMGM. We now have agreements with three mining companies in New Caledonia, strengthening our ties to the country and increasing our security of ore supply.SMGM has been a strong supporter of the TECH Project for a long time and we look forward to having a long term partnership that delivers value to both companies.”

SMGM Managing Director Mr. Xavier Gravelat commented,

“Our Company is pleased to provide its ore to a modern and innovative project designed to produce good quality nickel that is respectful of environmental issues. It is a great satisfaction to be able to contribute to the development of a clean and sustainable nickel.”

About SMGM

Société Minière Georges Montagnat (SMGM) was founded in 1956 by Georges-Louis MONTAGNAT. The company’s activities are related to mining in particular discovering new deposits, ore extraction, transport, stock piling, lighterage, and ship loading. SMGM also works as a subcontractor for the Société Le Nickel (SLN).

SMGM operates on mining centers located in Koumac, Tontouta and Ouinné, a lateritic deposit. The company’s major buyers are in New Caledonia, Japan and in China. Laterite ore was also exported to Australia from 2000 to 2013.


Click here for the full ASX Release

This article includes content from Queensland Pacific Metals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

QPM:AU
The Conversation (0)
Element 25 Limited

Element 25 Signs US$85M Supply Deal with GM for Manganese Sulphate

Element 25 (ASX:E25) has signed a deal with General Motors (NYSE:GM) to supply the car manufacturer 32,500 tonnes of manganese sulphate annually, according to a news report by Reuters.

Keep reading...Show less
Red up arrow next to a burlap sack labeled "surplus."

INSG: Global Nickel Surplus to Hit 198,000 MT in 2025

Amid rising production and weakening demand, the global nickel market is forecast to swing into a 198,000 metric ton (MT) surplus in 2025, according to the International Nickel Study Group (INSG).

In an April 24 release, the INSG said that world primary nickel production is expected to reach 3.735 million MT this year, outpacing the primary usage forecast of 3.537 million MT for 2025.

The nickel sector recorded surpluses of 170,000 MT in 2023 and 179,000 MT in 2024.

"The world economy is currently facing changes to national policies, namely related to trade. This will probably contribute to a higher level of uncertainty regarding raw materials markets," the group notes.

Prices for nickel, a critical component in stainless steel and electric vehicle (EV) batteries, have struggled under mounting oversupply. After losing more than 7 percent in 2024, nickel prices continued to show volatility in Q1 2025.

Keep reading...Show less
Glowing periodic table detail highlighting nickel.

Nickel Price Update: Q1 2025 in Review

Nickel prices have largely trended down since breaking US$20,000 per metric ton in May 2024.

The decline has been attributed to refined nickel oversupply, driven by high output from Indonesia, which mined an estimated 2.2 million metric tons of nickel in 2024 and accounted for more than 50 percent of global output.

The threat of US tariffs has also weighed heavily on markets that are reliant on nickel and its downstream products, such as the stainless steel and electric vehicle battery industries.

These factors pushed nickel to five year lows in the US$15,000 range in Q1.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less
Diagonal rows of nickel rolls.

Top 3 ASX Nickel Stocks of 2025

With its diverse applications in both technology and industry, nickel is a metal that will never go out of style.

Nickel is commonly used in alloys to create stainless steel, but more recently has found a modern use: batteries. As the electric vehicle trend gains steam, the base metal is in high demand for its role in lithium-ion batteries.

Nickel has encountered much volatility in the past few years. After spiking to record highs in 2022, the nickel price has been on a downward trend on oversupply from top-producing country Indonesia and economic uncertainty dampening demand.

Tariffs could further disrupt the nickel market going forward, but whether that's to the upside or the downside remains to be seen.

Against that backdrop, some Australian nickel companies are still making moves. Here the Investing News Network has listed the top nickel stocks on the ASX by year-to-date gains. Data was gathered using TradingView's stock screener on April 9, 2025, and all companies had market caps above AU$5 million at that time. Read on to learn more about them.

Keep reading...Show less

Latest Press Releases

Related News

×