Name of the Project
Australian vanadium project.

Location
Murchison province, Western Australia.

Project Owner/s
Australian Vanadium Limited (AVL).

Project Description
The project is one of the most advanced vanadium projects being developed in the world, and comprises a high-grade vanadium/titanium/iron-ore deposit, with proven and probable reserves of 32.1-million tonnes grading 1.05% vanadium pentoxide.

The project is expected to produce 24.3-million pounds of vanadium a year over a 25-year mine life and is based on a proposed openpit mine; a crushing, milling and beneficiation plant; and a processing plant for final conversion and sale of high-quality vanadium pentoxide for use in steel, specialty alloys and energy storage markets.

About 900 000 t/y iron-titanium co-product will be shipped through the Port of Geraldton over the life-of-mine.

Potential Job Creation
More than 740 jobs are expected to be supported by the project.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of A$909-million and an internal rate of return of 17.5%, with a payback of 6.6 years.

Capital Expenditure
$399-million.

Planned Start/End Date
AVL is aiming to produce its first vanadium electrolyte for commercial use by November 2023.

Latest Developments
AVL has completed the first phase of an optimised feasibility study for the project, confirming the preferred development pathway for an integrated project.

The company merged with Technology Metals Australia (TMT) in February, amalgamating their adjacent mining projects across one orebody at Gabinintha. This provided opportunities to realise synergies from creating a consolidated project.

Phase 1 of the optimised study has delivered an updated mineral resource estimate, with a 39% increase in measured and indicated categories for the high-vanadium grade domain and increased iron-concentrate grades.

The study has also identified the southern blocks of the project, with higher vanadium and iron concentrate grades and favourable weathering attributes for economic mining, as the preferred location for initial mining.

The company has also completed a key trade-off study that has determined Tenidewa, near Geraldton, as the preferred location for a downstream processing plant.

Prior to the merger, AVL had proposed to locate its downstream processing plant at Tenindewa, while TMT had proposed to locate its plant adjacent to the mine site at Gabanintha.

In parallel to ongoing feasibility study works, AVL will assess opportunities to use federal grant funding of up to A$49-million to provide options for activities such as detailed engineering and accelerating of the project schedule by proceeding with long-lead equipment orders.

“Timely delivery of the project is a key objective for the company in anticipation of growing demand for vanadium flow batteries, which will cornerstone the essential long duration energy requirements of the net zero carbon energy transition,” CEO Graham Arvidson has said.

Key Contracts, Suppliers and Consultants
Primero Group (construction contract).

Contact Details for Project Information
Australian Vanadium, tel +61 8 9321 5594 or email info@australianvanadium.com.au.