PERTH (miningweekly.com) – Junior Platina Resources will update its independent scandium market study and would work with Traxys Europe SA to assess scandium product and market development, as well as the potential funding options for its scandium project, in New South Wales.
The sharpened focus on the scandium project comes in response to mining major Rio Tinto’s recent announcement that it would construct a commercial scandium oxide demonstration plant in Quebec, with Platina MD Corey Nolan saying the company was hopeful this move would stir favourable winds for the market and its own scandium project.
“Platina’s prime objective is to secure production offtake agreements to enable financing options to be pursued for construction funding for the project, which is located in New South Wales, and hosts one of the highest grade scandium deposits in the western world.
“The project remains one of the world’s leading undeveloped scandium projects with the 2018 definitive feasibility study demonstrating a Stage 1 annual production of 20 t and a forecast modest initial capital expenditure of $50-million.”
Nolan said that while the solid oxide fuel cell industry has been the dominant consumer of scandium in recent years, the metal’s value was as an aluminium alloy targeting aerospace, marine, military and automobile industries.
In addition to scandium production, the project also has the potential for producing high purity alumina for use in lithium-ion batteries.