Resources and chemicals group Australian Vanadium has advanced its proposed Western Australian project to produce critical battery metals and electrolyte for vanadium redox storage batteries with the completion of a bankable feasibility.
The company told investors it had completed technical studies including three years of pilot testing which had de-risked the company’s vanadium, iron and titanium resource at Gabanintha south of Meekatharra where crushing, milling and benefaction will take place.
Concentrate will produce vanadium pentoxide (V2O5) suitable for the critical mineral and battery market at Mullewa near the port of Geraldton, while further processing will occur at a vanadium electrolyte manufacturing plant currently under construction at Kwinana south of Perth.
Managing director Vincent Algar said: “The company is now in a position to progress through funding, final engineering, procurement, construction and into production.”
Australian Vanadium Limited recently received a $49 million grant from the federal government to support the major project which aims to produce 11,200 tonnes of vanadium pentoxide a year and 900,000 tonnes of iron-titanium co-product.
The company said it was now well advanced with environmental and other approvals as was the project’s engineering and design being carried out by Wood Australia.
The cost of pre-production plant and infrastructure is estimated at $604 million.
The company now has a basis for engaging with financing institutions including Export Finance Australia and international resource banks.\
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