Ferro-Alloy Resources Ltd (LSE:FAR) said vanadium production in the second quarter of 2023 was its best ever as it recovered from supply chain issues that disrupted the start of the year.
Kazakhstan-based Ferro-Alloy is running a small-scale operation currently ahead of the development of the huge Balasausqandiq deposit, for which it said it expects to publish the first stage of a definitive feasibility study in April.
Current operations, which comprise processing secondary material, saw vanadium output in the second quarter jump to 141 tonnes as it switched suppliers after the problems in the first quarter.
Half-year production was barely changed at around 173t as a result, though financial numbers were affected with revenues of US$3.3 million and an interim loss of US$1.5m (2022: loss of US$0.7m).
Nick Bridgen, chief executive, said he was pleased both with the progress of the feasibility study and the current operational improvement.
“With the completion of the expansion of the existing process plant, and the improved raw-material supply position, I look forward to much better operational performance from the fourth quarter of this year onwards," he added.