QPM agreed to buy the aging Queensland gas field in April, which came with legacy supply contracts with Incitec Pivot's Dyno Nobel ammonium nitrate plant.
The pair has now struck new commercial terms to support QPM's purchase of Moranbah and meet the funding required to boost production.
Dyno Nobel will chip in $80-120 million to ensure it has the feedstock needed for its plant.
The facility will be repaid by the supply of 7.1 petajoules per annum over seven years.
The new gas supply agreement is due to come into force in April 2026 once the existing 7PJpa deal ends.
The field is producing 10PJpa today.
QPM is targeting an increase to 13PJpa within six months, which should allow more gas to be sold to the 242 megawatt Townsville peaking power station, increasing Moranbah's revenues.
The full facility targets the drilling of 16 new wells over 24 months, which should position the field to sell gas into the TECH development.
QPM, which is seeking finance for its development, needs 14PJpa of gas for its first stage to recover battery-grade metals from the laterite ores that will be imported from New Caledonia. It aims to produce 16,000 tonnes per annum nickel and 1800tpa cobalt.
Stage one is expected to cost $2.1 billion. It has expressions of interest for $1.4 billion in debt from groups such as Export Finance Australia, the Northern Australia Infrastructure Facility, South Korea's K-Sure, and Export Development Canada.
Owning Moranbah, which has capacity, gives it control of its destiny and an early source of revenue.
It announced the purchase in April with a plan to pay just $5 million in cash for Moranbah from its current owners, Shell's Arrow Energy and AGL Energy, and hopes to finalise its purchase of Moranbah by mid-year.
Over the past two decades, around $1 billion has been invested in the field, with 100 wells drilled to date. Facilities are in place to support 30PJpa of production.
QPM shares have traded between 9-20c over the past year and were up 9% today at 12c, capitalising it at $219 million.
