TSX-V-listed Strategic Resources’ Mustavaara project, in Finland, has been selected to be part of Avanti, a €5-million study on vanadium and titanium funded by the European Union (EU).
Currently, the EU relies on imports, primarily from China and Russia, for its vanadium and titanium needs.
Avantis aims to explore sustainable and decarbonised methods for co-extracting vanadium and titanium minerals from Europe’s low-grade vanadium-bearing titanomagnetic deposits.
The study project started in January, with the goal of assessing new extraction methods to produce two distinct pre-concentrates: ilmenite-rich, titanium pre-concentrate and ilmenite-free, vanadium pre-concentrate.
Strategic had previously completed a preliminary economic assessment in 2021 for the Mustavaara mine and concentrator, envisioning a smelter and hydrometallurgical plant in Raahe, separate from the mine site and concentrator.
The project development was based on 329 000 t of yearly pig iron and 4 577 t of yearly ferrovanadium (80) production over a 20-year mine life.