Technology Metals Australia Ltd (ASX:TMT) has confirmed leading Danish company FLSMIDTH as the preferred supplier for front-end engineering and design (FEED) services to deliver the key roasting kiln section of its Murchison Technology Metals Project (MTMP) vanadium processing plant.
FLSMIDTH an engineering company with almost 10,100 employees worldwide, has already worked extensively with TMT on test-work programs in support of the development of the MTMP, and the two companies maintain a “strong collaborative working relationship”.
The company is a leading supplier of production facilities, equipment and service solutions to the mining and cement industries, and offers advanced, custom-tailored rotary kiln solutions. It has recent experience in the design, installation and support of roasting kilns for vanadium operations.
FEED work will determine and design optimal kiln sizing and operating parameters, based on recent test-work results.
TMT to pursue export credit solution
TMT will also engage with EKF, the Danish export credit agency, to pursue opportunities for export credit financing support – this is an important part of the overall MTMP funding strategy.
This marks a key milestone in the progression of the MTMP, which now enters its implementation phase.
Managing director Ian Prentice said: “Issuing the Notice to Proceed to the FEED stage to industry leaders FLSMIDTH is an incredibly important step for the MTMP, building on the 4+ years of collaboration between the companies and confirming the application of standard processing technologies.
“This formal engagement with FLSMIDTH marks the first major step in the implementation phase of the project, aimed at accelerating delivery of the world’s next large-scale primary vanadium producer.”
About the MTMP
The MTMP consists of the Gabanintha Project and the Yarrabubba Project, located to the south of Meekatharra in the Mid-West of Western Australia.
Gabanintha was the subject of a definitive feasibility study as a standalone vanadium development project, delivering robust economics over an initial 16-year mine life.
The satellite Yarrabubba deposit offers higher vanadium in concentrate grades than Gabanintha, and the opportunity to produce a highly sought after titanium co-product, making it an attractive addition to the MTMP.
TMT is confident that the MTMP will be a long term, low-cost, stable producer of high purity vanadium, a critical mineral with a vital role to play in the efficient and effective deployment of renewable energy and reduction of emissions.
The project will also be a producer of the highly sought-after titanium by-product while it mines and processes ore from Yarrabubba.
About Danish company
FLSMIDTH aims to provide sustainable productivity to the global mining and cement industries, by delivering market-leading engineering, equipment and service solutions to enable its customers to improve performance, drive down costs and reduce environmental impact.
The company’s operations span the globe and it is present in more than 60 countries.
In 2021, FLSMIDTH generated revenue of DKK 17.6 billion.
The company aims for zero emissions in mining and cement by 2030.
Vanadium market outlook
The global vanadium price has appreciated significantly over the past 12 months as global economies recover from the impacts of COVID-19.
Stimulus spending directed towards infrastructure projects and sustainability has resulted in the increasing deployment of renewable energy and the associated increased requirements for grid-scale stationary storage solutions such as vanadium redox flow batteries (VRFBs).
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