V for Vanadium

With the Lithium industry setting the pace for critical minerals’ investment, it would be a brilliant idea to look at the next critical mineral claimed to help reach net zero – Vanadium.

This malleable transition metal is used to manufacture redox batteries used in grid energy storage and typically outlasts lithium-ion batteries. However, because this type of battery can also be used in electric vehicle charging stations, production would only complement the already booming Lithium industry. With an operational lifespan of over 20 years, many mining companies are bidding for Vanadium projects in Western Australia and Queensland.

Previously, environmental concerns impeded the progress of new critical mineral projects going ahead. However, that’s all changed after Queensland recently invested in an Environmental Impact Statement (EIS) in the North-West Minerals Province.

A $242.2 million project was proposed for a site located 45 km north-west of Richmond and its  proponent is Richmond Vanadium Technology (RVT). They expect this mine will create up to 100 construction and 200 continuous operations positions over the next 25 years.

“There are huge opportunities to grow production of critical minerals in the North West Minerals Province and our investment in Copperstring 2032 and the Queensland Resources Common User Facility will support companies like Richmond Vanadium Technology.” Resources Minister Scott Stewart said.

According to the company’s March Quarterly Report, The Richmond-Julia Creek Vanadium Project is capable of supporting a world class clean green focussed vanadium operation for over 100 years at current throughput rates, with a Mineral Resource of 1.8Bt @ 0.36% for 6.7Mt V2O5 and Ore Reserve of 459Mt @ 0.49% for 2.25Mt V2O5. With an incremental increase from $0.38 per share this year and strong forecasted returns, watch this space.

At PX4, we’re able to provide clarity, security and certainty whilst managing your diverse tenement portfolio, including Vanadium projects.

 Because we understand that your tenements are your assets.

 Disclaimer: To ensure clarity, certainty security of such reporting, reference to ASX and JORC Code has been applied in this instance and any financial advice should be sought from an independent financial advisor. The investment information and services offered may not be suitable for all investors.

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