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. The project has total minerals resources of 395.4-million tonnes at 0.77% vanadium pentoxide.

The project will include a mine and a crushing, milling and beneficiation plant (or concentrator), located at Gabanintha, near Meekatharra, and the downstream vanadium processing plant at Tenindewa, near Mullewa. 

AVL also owns and operates a vanadium electrolyte manufacturing facility in Perth.

An optimised feasibility study (OFS) is focusing on realising the potential economic benefits of the integrated project, which will be informed by preceding trade-off studies to determine the preferred project development pathway, mine scheduling and processing plant location. The aim of the OFS is to improve on previous economic and technical metrics.

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 received a nonbinding letter of interest from the Export-Import Bank of the United States (EXIM) for up to $31-million in debt financing to advance the development and construction of the project.

EXIM’s support pertains to the potential for equipment to be sourced from the US. As part of the company’s OFS, AVL will continue to identify opportunities to expand the scope of the project’s US content, including equipment, goods and services, which may increase the size of the potential financing offered by EXIM.

AVL continues to progress the OFS for the project, with upcoming key milestones focused on finalising the detailed mining plan, optimising all project infrastructure and completing the layout and key design criteria.

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.