Australian Vanadium signs port deal
PERTH (miningweekly.com) – ASX-listed Australian Vanadium has signed a joint cooperation agreement with Mid West Ports Authority (MWPA) to access port infrastructure as part of its development plans for the Australian Vanadium project.
The project is one of the most advanced vanadium projects being developed globally and will produce a vanadium concentrate at the resource site and complete production of a high purity vanadium and an iron titanium coproduct at a processing plant located near the port city of Geraldton.
The project will ship 900 000 t/y of iron titanium coproduct through the Port of Geraldton for the 25-year life of the project.
Australian Vanadium said on Friday that signing a joint cooperation agreement allows the company and MWPA to work cooperatively to define the best alternatives for the storage and shipping needs of the project.
MWPA is actively planning for future growth of the port facilities and Australian Vanadium will become a key long-term partner in the port’s proposed expanded capabilities.
Australian Vanadium is in discussions to secure multiple offtake agreements for this iron titanium coproduct, primarily used in blast furnace applications. In November last year, the company signed its first letter of intent for sale of the product to Shenglong Metallurgy International in Hong Kong, the commercial arm of Guangxi Shenglong Metallurgy Co.
“Having confidence that MWPA will be able to directly accommodate our requirements is another big step in our pathway to production. Improving confidence levels in our costings and providing necessary assurances for future access and communication is a major benefit as we finalise our bankable feasibility study (BFS) and move towards approvals and funding,” said Australian Vanadium MD Vincent Algar
The Port of Geraldton will also be used as a receiving port for Australian Vanadium’s processing reagents and large break-bulk equipment needed for the processing plant and crushing, milling and beneficiation plant at Meekatharra, and will enable the company to import renewable energy hardware for both project sites.
MWPA has provided indicative quotes for Australian Vanadium to access the Port at Geraldton for shipping and product storage, which enables these figures to be included in the company’s BFS.
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