leadf
logo-loader
viewAustralian Vanadium Ltd

Australian Vanadium welcomes new critical mineral 10-year plan for value addition

The Federal Government has today launched a 10-year road map aimed at supporting Australia’s critical minerals industry.

Australian Vanadium Ltd - Australian Vanadium welcomes new critical mineral 10-year plan for value addition
AVL is well advanced along the path to mine and process vanadium, which is considered a critical mineral.

Australian Vanadium Ltd (ASX: AVL) has welcomed today’s launch of the Australian Government’s 10-year road map for the critical mineral industry.

AVL has a strong belief in the importance of adding value to minerals within Australia and keeping both the value and associated jobs in the country. 

The company plans to process vanadium through to critical and battery mineral grade products at a coastal processing plant location in Western Australia.

VSUN to add further value

AVL’s 100%-owned subsidiary VSUN Energy will add further value and job creation through the manufacture of vanadium electrolyte for VRFBs, initially in Western Australia, with scaled-up production to be located near VRFB installations such as the 2MW/8MWh and 50MW/200MWh batteries planned for installation in South Australia.

VSUN Energy also installs and maintains VRFBs across Australia from its base in Perth. This growth industry provides the opportunity for further job creation and value addition to the vanadium mined by AVL in Western Australia.

Vanadium a critical mineral

Vanadium is classed as a critical mineral due to its use in alloyed steel which is needed for defence and aerospace applications. 

It is also used in steel for the construction industry and its addition to this material results in an annual global carbon emission reduction that has been estimated as being equivalent to planting 260 million trees.

In the battery industry, vanadium is used in the Australian-invented vanadium redox flow battery (VRFB) to provide a sustainable energy storage device with traits such as non-flammability and a long lifespan with no degradation in performance.

"In a strong position"

AVL’s managing director Vincent Algar said: “We have had a long-held belief in the importance of adding value to mined minerals here in Australia. 

“The old ‘dig and ship’ mentality needs to change and having the support of Federal Government only helps companies such as AVL and VSUN Energy to achieve these goals. 

“With our Major Project Status and contacts through Austrade, we are in a strong position to leverage the critical and battery mineral narrative, adding economic value for Australia through royalties, job creation and a positive impact on associated industries in Western Australia and across the country.”

Quick facts: Australian Vanadium Ltd

Price: 0.0245 AUD

ASX:AVL
Market: ASX
Market Cap: $71.79 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Australian Vanadium Ltd named herein, including the promotion by the Company of Australian Vanadium Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Australian Vanadium says confidence has been boosted following positive...

Australian Vanadium Ltd's (ASX:AVL) (OTCMKTS:ATVVF) (FRA:JT71) Vincent Algar speaks to Proactive's Andrew Scott following completion of pilot-scale pyrometallurgical test-work which has confirmed world-leading vanadium extraction. The work comprised detailed testing and optimisation work on...

on 10/3/21

2 min read