Licence granted for Australian Vanadium
PERTH (miningweekly.com) – The Western Australian government has granted ASX-listed Australian Vanadium a mining lease for its namesake project.
The mining lease would have an initial term of 21 years from August 28.
“The grant of a mining lease is an important milestone for Australian Vanadium and provides certainty to investors and potential project financiers in Australia and globally,” said MD Vincent Algar.
The company said on Monday that the granted mining lease covered some 70% of the declared mineral resource over a single continuous area, with the balance of the inferred mineral resource located on the adjoining mining lease application.
Australian Vanadium is progressing a feasibility study on its namesake project which has previously been granted Major Project Status by the federal government and State Lead Agency Status by the state government.
A prefeasibility study has previously estimated that the project could produce some 900 000 t/y of vanadium pentoxide magnetite concentrate, producing 22.5-million pounds of vanadium pentoxide a year, over an initial 17-year mine life.
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