Richmond-Julia Creek vanadium project, Australia

Image of fine vanadium

7th July 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Richmond-Julia Creek vanadium project.

Five-hundred kilometres west of Townsville, in north Queensland, Australia.

Project Owner/s
Richmond Vanadium Technology (RVT).

Project Description
The Richmond project is one of the biggest undeveloped oxide vanadium resources in the world, with the potential to meet increased demand from the speciality steel industry and the grid-scale energy storage market. The project consists of five tenements (EPMs 25163, 25164, 25258, 26425, 26426) totalling 1 403 km2 and comprises three main prospects – Lilyvale, Manfred and Rothbury.

RVT estimates extraction of up to 4.2-million tonnes year of vanadium ore, processed on site to produce 790 000 t/y of vanadium concentrate.

Potential Job Creation
If approved, the project is expected to create up to 100 construction jobs and up to 200 operational jobs over 25 years.

Net Present Value/Internal Rate of Return
The project has an estimated net present value, at a 10% discount rate, of A$1.09-billion and an internal rate of return of 62%, based on a current spot price of A$16.44/lb of vanadium pentoxide, with a payback of 1.9 years.

Capital Expenditure
The project has modest upfront capital costs of A$242.2-million.

Planned Start/End Date
Not stated.

Latest Developments
The terms of reference for an environmental-impact statement (EIS) for the project have been finalised.

RVT will now prepare a draft EIS responding to the terms of reference, which requires rigorous assessment of social, economic and environmental impacts.

Key Contracts, Suppliers and Consultants
Faultzone (feasibility study management and processing facility and infrastructure); RVT (geology and resources estimates); Dr Dawei Xu (mining and ore reserve); Hunan Nonferrous Metal Research Institute (metallurgical testwork); Ergon Energy Corporation (power study); CDM Smith (hydrology and hydrogeology); and Epic Environmental (environmental studies).

Contact Details for Project Information
RVT, tel +61 8 6141 9500 or email

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor


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