Vanadium Resources appoints Chinese group as EPC for South African project
ASX-listed Vanadium Resources has signed a memorandum of understanding (MoU) with China Energy International Group (CEIG) for engineering, procurement and construction (EPC) services, as well as financing assistance, for the Steelpoortdrift vanadium project in South Africa.
CEIG has a presence in South Africa and offers a wealth of experience in EPC and renewable energy.
The company is, for example, involved in the upcoming 283 MW Mooiplaats solar power plant, in South Africa’s Northern Cape province.
Vanadium Resources MD John Ciganek says the MoU will strengthen the relationship between the companies and pave the way for more value-add opportunities that could help the company transform into a vertically integrated vanadium producer.
The Steelpoortdrift project is located in the Bushveld Complex and currently boasts a mineral resource of 680-million tons grading 0.70% of vanadium oxide, for about 4.7-million tons of contained metal.
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