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Vanadium recovery project, Finland

Image of fine vanadium

2nd June 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor

     

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Name of the Project
Vanadium recovery project (VRP1).

Location
Tahkoluoto port, in Pori, Finland.

Project Owner/s
Neometals.

Project Description
VRP1 aims to produce high-purity carbon-negative vanadium pentoxide without building a mine and a concentrator like existing primary producers.

The March 2023 feasibility study proposes an operation with a 300 000 t/y feed rate, with yearly production estimated at 19.1-million pounds of vanadium pentoxide at steady state over a 9.75-year plant life.

The objective of the VRP1 is to design, build and operate a vanadium recovery facility capable of processing 300 000 t/y of metallurgical slag.

The process plant is designed to recover up to 9 255 t/y of vanadium pentoxide.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a net present value, at a 10% discount rate, of $323-million and an internal rate of return of 24.8%, with a payback of 5.7 years.

Capital Expenditure
Capital costs are estimated at $314.4-million.

Planned Start/End Date
A final investment decision is scheduled for June 2023, subject to finance, with construction planned to start in July, and operations in early 2026.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
Hatch (prefeasibility study); and Sweco Industry Oy ECS.

Contact Details for Project Information
Neometals, tel +61 8 9322 1182 or email info@neometals.com.au.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

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