A surge in prices of Vanadium, driven by historically high demand from China, has seen one of the world’s leading Vanadium exploration company’s take significant steps towards production.
Australian Vanadium (AVL) is a vanadium exploration company looking to take advantage of the growth in the emerging battery storage market through the development the Gabanintha Vanadium Project.
AVL is advancing Gabanintha towards feasibility and production, with previous metallurgical work indicating that the high-grade ore can produce a high-yield, high-grade magnetic concentrate, placing the project in a leading position globally to be the next hard rock vanadium producer
As part of the latest update, AVL has appointed a process laboratory, to manage a detailed program of testing to determine the nature of the mineralised domains present in the resource at Gabanintha.
First results of this testing program are expected in January 2018.
Vanadium: the demand of the dragon
Due to an extreme surge in demand from China, AVL has recently appointed Mastermines as a mining materials promotion and marketing consultancy with an experienced China-focused team. Mastermines will provide AVL with an active approach towards Chinese investment and has aggressively commenced activity in China.
“Vanadium supply has been developing a structural deficit over a number of years, stemming from a combination of low prices, loss of production in South Africa and erosion of existing stockpiles,” says an AVL spokesperson.
“This long term view on bullish pricing and demand in the dominant steel sector, coupled with the growing markets for vanadium in energy storage, are strong positive indicators for the ongoing evaluation of Gabanintha, with its unique characteristics and location.”
Look out for an exclusive interview with Vince Algar, Managing Director, Australian Vanadium in the December issue of Mining Global Magazine.