Managing director Vincent Algar told the annual mining conference in Kalgoorlie that few technologies have the potential to solve the problem of long-life energy storage like vanadium redox flow batteries.
Clean energy was the topic of the day on Monday at the 2022 Diggers and Dealers Mining Conference that kicked off in Kalgoorlie.
Among the companies presenting was Australian Vanadium Ltd (ASX:AVL) with managing director Vincent Algar outlining its clean energy, value-adding story incorporating the supply of vanadium for vanadium redox flow batteries.
Cannings Purple’s ‘Investor Insight’ for day one of Diggers included a section on AVL:
While lithium may be the star of the EV show, there is a strong consensus that a mix of technologies and power sources complementing one another – rather than competing – holds the key to decarbonising economies.
Long-life energy storage
Of the many newly developed technologies in this mix, few have the potential to solve the problem of long-life energy storage like vanadium redox flow batteries.
Vanadium is primarily used in the manufacture of steel alloys, however, its suitability for storing renewable energy, capability for grid connection and long life of more than 20 years has given investors and governments plenty to chew on.
Australian Vanadium managing director Vincent Algar told delegates that the company’s Australian Vanadium Project near Meekatharra in WA is capable of supplying up to 5% of the world’s vanadium.
High-grade vanadium electrolyte
A bankable feasibility study published in April showed the project was capable of producing high-grade vanadium electrolyte for more than 25 years. The company is targeting final investment decision in the December quarter, with production slated for 2024.
The project consists of a proposed open cut mine, crushing, milling and beneficiation (CMB) plant and a vanadium processing plant.
Concentrate produced at the CMB would be transported to a vanadium processing plant near Geraldton for conversion to vanadium pentoxide.
Algar said that the project’s logistics were unlike any other vanadium producer in the world. The coastal location of the CMB was a key strategic differentiator of the project, allowing the company to utilise gas, road and port infrastructure of the world-class mining region of mid-western Western Australia.
Once online, Australian Vanadium would be the world’s fourth vanadium producer.
“At the forefront”
In a pre-conference release from AVL, Algar said: “The AVL story is moving at a rapid pace as we bring this critical and battery metal project into production.
“Through our subsidiary VSUN Energy we are also at the forefront of the exciting renewable energy market and seeing firsthand the impact that can be made to carbon emission reduction.
“Next steps for the company revolve around securing finance for the project and finalising offtakes for our vanadium products and iron titanium co-product.
“It’s the right time to be bringing this high-grade vanadium deposit into production and we have a quality team at AVL to do it and do it properly.”
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