Australian Vanadium Limited (AVL) has locked in key mining areas and a location for its downstream processing plant as the company moves closer to production.
The decision was made following the commencement of an optimised feasibility study (OFS) launched after AVL announced its impending merger with Technology Metals Australia (TMT).
The study aimed to consolidate the companies’ adjoining projects into one orebody.
The project includes a vanadium mine and a crushing, milling and beneficiation plant located at Gabanintha near Meekatharra in WA, where the mining and upstream processing of vanadium bearing magnetite ore is proposed to be undertaken.
The next phase of the study will focus on finalising a detailed mining plan and optimisation of the plant and infrastructure.
“By focusing on the most promising sections of the orebody and conducting a comprehensive analysis to select the optimal location for the downstream processing plant, we have now finalised the key foundations from which the remaining OFS activities can fully define a ‘stronger for longer’ version of the project which has been unlocked through the recent merger,” AVL chief executive officer Graham Arvidson said.
In parallel to ongoing OFS works, Arvidson said AVL continues to assess opportunities for grant funding provided by the Australian Government.
The funds provide AVL options for activities such as detailed engineering and the acceleration of project schedule by proceeding with long lead equipment orders.
“Timely delivery of the project is a key objective for the company in anticipation of growing demand for vanadium flow batteries, which will cornerstone the essential long duration energy requirements of the net-zero carbon energy transition,” Arvidson said.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
