Aura targets Sweden battery project listing in H2
JOHANNESBURG (miningweekly.com) – Plans are advancing for the separate listing of explorer Aura Energy’s Häggån polymetallic project, in Sweden, with completion targeted for the second half of the year.
The company would initially maintain an ownership of 70% to 80% in the vanadium initial public offering (IPO) spin-off, but said in an update on Thursday that it would consider further third-party investments or sell-downs as value accrued in the vehicle over time.
Aura, which is dual listed on the Aim and ASX, said that it had conducted a review of international stock exchanges to determine the best location for Häggån Battery Minerals’ listing.
The Häggån project contains vanadium, cobalt, nickel, zinc, neodymium, molybdenum and uranium, but the recent price rise has shifted the emphasis mainly to vanadium.
The project has an inferred resource of 13.1-billion pounds of contained vanadium pentoxide (V2O5), which Aura said showed that Häggån had the potential to be one of the world's largest sources of vanadium supply.
With a vanadium grade of 0.28% V2O5 at a 100 ppm U3O8 cutoff and 0.33% V2O5 at a 180 ppm U3O8 cutoff grade, the vanadium grade is at least 18 times higher concentration than uranium.
Aura said that it would review the mineralogical testwork that was conducted during the 2012 scoping study to identify opportunities for improved processing options.
The new testwork would use material available from the existing drilling programme and would investigate options to integrate vanadium processing technology with base metal recovery from the Häggån bacterial heap leach. This testwork would aim to increase efficiency of vanadium recovery, reagent consumption and energy requirements, keeping the process at low cost.
As part of the review, Aura would investigate options for beneficiation of the Häggån mineralisation to present a higher-grade feed to the main recovery process.
Aura was also considering possibilities for Häggån Battery Metals to become involved in downstream businesses in the battery research and manufacturing sector.
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