AVL make early start on vanadium development

Australian Vanadium (ASX:AVL) have engaged Primero Group and GR Engineering to begin preliminary crushing and beneficiation plant planning for its globally significant vanadium project near Meekatharra in Western Australia’s Murchison region.

The parties will collaborate as part of an Early Contractor Involvement Process (ECI), anticipated delivering an Engineering Procurement and Construction tender proposal from each company by Q2 2023.

The Project is one of the most advanced vanadium projects being developed globally, based on a high-grade V-Ti-Fe Mineral Resource located in the Murchison Province.

Open-cut mining and a CMB will be located south of Meekatharra, and a vanadium pentoxide processing plant will be located near the port city of Geraldton.

The Project will produce a vanadium concentrate at the resource site and complete production of high-purity vanadium for the steel, titanium master alloy and energy storage markets, as well as an iron titanium (FeTi) coproduct for export through Geraldton at its planned processing plant.

AVL said it would help build relationships by collaborating in design development, optimising risk allocation and preparing EPC pricing.

“Appointing Primero and GR Engineering in this ECI role is a key step forward for the Project as we progress towards development and construction,” Managing Director Vincent Algar said.

These agreements are indicative of the level of confidence we have in progressing towards execution and will be pivotal in setting the foundations of key partnerships which are essential in ensuring the success of the Project.”

Price Action

The Company’s ASX-listed shares have risen 1.92 per cent to 2.7c in early morning trade.

Next Steps

The ECI process will run through until Q2 2023, with each company’s final deliverable being an EPC tender proposal.

About Australian Vanadium

AVL is a resource company focused on vanadium, seeking to offer investors unique exposure to all aspects of the vanadium value chain – from resource through to steel and energy storage opportunities. AVL is advancing the development of its world-class Australian Vanadium Project at Gabanintha. The Australian Vanadium Project is one of the most advanced vanadium projects being developed globally, with 239Mt at 0.73% vanadium pentoxide (V₂O₅), containing a high-grade zone of 95.6Mt at 1.07% V2O5 and an Ore Reserve of 30.9Mt at 1.09% V2O5 comprised of a Proved Reserve of 5Mt at 1.11% V2O5 and a Probable Reserve of 20.4Mt at 1.07% V2O5, reported in compliance with the JORC Code 2012 (see ASX announcement dated 1st November 2021 ‘Mineral Resource Update at the Australian Vanadium Project’ and ASX announcement dated 6th April 2022 ‘Bankable Feasibility Study for the Australian Vanadium Project’).

VSUN Energy is AVL’s 100% owned renewable energy and energy storage subsidiary focused on developing the Australian market for vanadium redox flow batteries for long-duration energy storage. VSUN Energy was set up in 2016 and has since become world-renowned for its VRFB expertise. AVL’s vertical integration strategy incorporates processing vanadium to high purity, manufacturing vanadium electrolytes and working with VSUN Energy as it develops projects based on renewable energy generation and VRFB energy storage.

Fundamental Data

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified.