Australian Vanadium achieves significant research milestones for vanadium project
In 2020, AVL was awarded a Co-operative Research Centre Project grant of $1.25 million by the Australian Federal Government through a competitive award process.
Company
ASX:AVL
Australian Vanadium Ltd (ASX:AVL, OTCQB:ATVVF) is a resource company focused on vanadium, seeking to offer investors a unique exposure to all aspects of the vanadium value chain – from resource through to steel and energy storage opportunities. The company is advancing the development of its world-class Australian Vanadium Project at Gabaninthaoject near Meekatharra, which is among the highest-grade vanadium projects in the world. VSUN Energy is AVL’s 100% owned renewable energy and energy storage subsidiary which is focused on developing the Australian market for vanadium flow batteries for long duration energy storage.
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In 2020, AVL was awarded a Co-operative Research Centre Project grant of $1.25 million by the Australian Federal Government through a competitive award process.
The Coates Project near Perth is 29 kilometres southeast of the nickel-copper-platinum group elements-gold discoveries by Chalice Mining and in a similar geological setting.
The company’s primary objective for filing the patent application is to protect the unique and efficient processing design that has been developed to bring the Australian Vanadium Project at Gabanintha into production.
The company’s plans to add value to its vanadium in Australia will benefit from the government assistance if it is successful in its application.
Bryah holds a suite of mineral rights over the project including nickel, copper and gold while AVL holds the mineral rights to vanadium, titanium, iron ore and cobalt.
“As a global community, it is important that businesses behave in a responsible and sustainable manner to ensure the positive future of our planet," says MD.
The overall vanadium recovery forecast for the entire process is regarded as exceptional due to a combination of favourable ore characteristics and significant technical development by AVL.
The Federal Government has today launched a 10-year road map aimed at supporting Australia’s critical minerals industry.
The Australian Vanadium Project is the subject of a bankable feasibility study by AVL and both companies are planning a cobalt-nickel-copper mineral resource update with new drilling results.
The company is advancing the development of its world-class Australian Vanadium Project and intends to produce a value-added vanadium product in Australia for sale to steel, battery and specialty chemical customers.
CADDS Group will design a new housing for the VRFB system and provide potential design changes to improve the battery for Australian residential conditions.
The positive economic results give grounds for completion of a BFS in mid-2021, finalising offtake, obtaining final approvals and securing project finance.
An MOU has been signed with US Vanadium LLC, which AVL says will give it the ability to negotiate at the highest level within the vanadium market and leverage the critical mineral narrative with end-users.
USV has deep ties across the North American vanadium end-user market and the capacity to act as a sales agent for future AVL high-purity vanadium products.
The MOU is non-binding and for a term of two years with an option to renew for a further 12 months and offers opportunities to expand VRFB sales in the Australian market.
“AVL is developing one of the highest-grade vanadium projects underway in the world and our aim is to become a low-cost producer able to withstand long-term commodity price cycles,” said managing director Vincent Algar.
The MOU provides a basis for negotiations to establish a binding offtake agreement, with the intention for ATCO to supply 10% of the total gas requirements with green hydrogen.
The company is undertaking diamond drilling in the resource blocks at the Australian Vanadium Project to gather key metallurgy and geotechnical information.
The vanadium redox flow battery-based standalone power system is designed to provide the microgrid with an uninterrupted, clean and safe source of energy primarily supplied by direct and stored solar energy.
The company’s strategy incorporates use of hydrogen in the ore reduction process, into the natural gas pipeline, transportation from mine site vehicles to haulage trucks and use of hydrogen ammonia by-product material in vanadium processing