Name of the Project
Australian Vanadium project.

Location
Murchison province, Western Australia.

Project Owner/s
Australian Vanadium Limited (AVL).

Project Description
The bankable feasibility study has confirmed the project as a potential globally significant primary vanadium producer targeting critical mineral, steel and energy storage.

Average vanadium production is estimated at 11 200 t vanadium pentoxide – as a 99.5% vanadium pentoxide high-purity flake and a 900 000-dry-tonne-a-year iron titanium co-product – over a 25-year mine life.

An innovative process flowsheet recovers 90% of vanadium in concentrate using established grate kiln technology, with valuable reductions in gas consumption and carbon dioxide.

The strategic separation of the processing plant from the mine site and concentrator allows for access to competitive natural gas near Geraldton, the local workforce and iron titanium co-product sales opportunities through the Port of Geraldton.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of A$833-million and an internal rate of return of 20.6%, based on a $10.50/lb vanadium pentoxide price.

Capital Expenditure
A$604-million in upfront preproduction capital, excluding contingency.

The project has received a government grant of A$49-million, awarded under the Modern Manufacturing Initiative Collaboration Stream, to support the project to production.

Planned Start/End Date
A final investment decision on the project is expected in the fourth quarter of 2022, with construction expected to start in the fourth quarter of 2023, depending on approvals and financing.

Latest Developments
Bryah Resources has reported a 15% increase in the indicated and inferred base metal mineral resource estimate at the Australian Vanadium project, which is located within the company’s Gabanintha project, in Western Australia.

AVL holds the mineral rights over the vanadium, titanium, iron and cobalt at the project, as well as a 4.8% shareholding in Bryah.

The base metal mineral resource estimate at the project has increased from 31.3-million tonnes to 36-million tonnes, grading 766 parts per million (ppm) nickel, 212 ppm copper and 231 ppm cobalt for about 27 596 t of contained nickel, 7 630 t of contained copper and 8 303 t of contained cobalt.

“With Australian Vanadium progressing strongly towards vanadium production, completing the bankable feasibility study and being granted a A$49-million grant from the government, Bryah also comes a step closer to realising value in its mineral rights,” Bryah CEO Ashley Jones has said.

Key Contracts, Suppliers and Consultants
None stated.

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