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Clean TeQ Water secures $5.4M scandium project contract
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Clean TeQ Water secures $5.4M scandium project contract

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  • Clean TeQ Water secured a front-end engineering design and early works contract valued at up to $5.4 million.
  • The deal provides an immediately contracted scope of approximately $2 million, with a provisional $3.4 million for long-lead items.
  • The agreement advances the development of the scandium recovery circuit at the Syerston Scandium Project in New South Wales.

Clean TeQ Water (ASX:CNQ) has secured a contract worth up to $5.4 million from Sunrise Energy Metals (ASX:SRL) for design and early works at the Syerston Scandium Project.

The contract follows the completion of preliminary testwork and an engineering package announced by the business on Jan. 27.

Peter Voigt, CEO of Clean TeQ Water, said, “This award continues a collaboration that reaches back to the earliest development of the scandium flowsheet, and it is a strong endorsement of the work our team has delivered on the project to date.”

The direct FEED scope is valued at approximately $2 million, while provisional long-lead items account for an additional $3.4 million that may be released in tranches.

The company stated that the project scope encompasses a continuous Resin-in-Pulp ion exchange circuit and a downstream scandium refinery.

Following the announcement, the Clean TeQ Water share price was unchanged at $0.72.

The company delivers technology solutions for water treatment, metal recovery, and resource extraction projects globally.

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