AVL to boost economics, environmental credentials by extracting vanadium from waste
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Special Report: Australian Vanadium (ASX:AVL) will collaborate with a UK engineering firm to extract vanadium from waste products. This could further improve the excellent economics, and environmental credentials, of its of its namesake WA project.
AVL’s world-class Australian Vanadium project at Gabanintha is currently one of the world’s highest-grade vanadium development projects.
AVL aims to complete a project Bankable Feasibility Study (BFS) in mid-2021.
This project is already expected to be one of the lowest cost primary vanadium operations globally once it is up and running.
Meanwhile, AVL is looking to add even more value.
A memorandum of understanding (MOU) has been signed with UK consultancy GSA Environmental Limited (GSAe) to examine the commercial opportunities offered by extracting vanadium from waste products.
A number of by-products contain vanadium, such as fly ash, slags and petcoke slags, but it is generally difficult to process.
Right now, this material ends up in landfill sites around the world, but GSAe has specific intellectual property relating to the extraction of vanadium from these by-product materials.
Extracting the saleable material from this waste could have positive economic and environmental impacts.
AVL managing director Vincent Algar says that the two companies have developed a strong relationship through previous interactions, and a common interest in the environment and vanadium redox flow battery tech.
“Teaming up the vanadium processing expertise in AVL with GSAe’s unique clean environment and metal extraction skills will allow us to deliver further improvements and positive investor outcomes for AVL shareholders and other stakeholders,” he says.
The initial two-year MOU provides a basis for the two companies to enter into a commercial agreement for use of GSAe’s proprietary technology, and technologies developed between AVL and GSAe.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.