Ferro-Alloy Resources Ltd – vanadium miner with operations in Kazakhstan – Starts production of ferro-molybdenum and vanadium pentoxide. Back in October 2020, company began recovering molybdenum in the form of calcium molybdate as by-product of recovery of vanadium from concentrates it bought in. Ferro-Alloy adds: “Calcium molybdate was sold at a discount to the published price for the contained molybdenum. The company is now converting this calcium molybdate to ferro-molybdenum which will enable the company to avoid the discount.”
The company commissions equipment to convert ammonium metavanadate, or AMV, into vanadium pentoxide. AMV was once sold at “small discount” to published price of vanadium pentoxide. “Some amounts will continue to be sold as AMV in order to satisfy existing contracts, but increasing amounts will be converted to vanadium pentoxide, thus eliminating the discount for AMV,” company adds.
Current stock price: 31.50 pence
Year-to-date change: up sharply from 10.10p
www.ferroalloynet.com
