Investment Tips 26-10-2023 08:04 21 Views

Australian Vanadium Seeks $500M to Build Mine, Processing Plant

Australian Vanadium (ASX:AVL, FRA:JT71, OTC:ATVVF) will commence construction of its Australian Vanadium Project (AVP) in 2024 targeting production by late 2025 or early 2026, according to an article published by the Chamber of Commerce and Industry, WA.

Profiled on WA Investments, the project is seeking an investment value of more than $500 million to start building the project including an open-pit mine near Meekatharra and a processing plant near Geraldton, the article stated.

“The Australian Vanadium Project is located in a tier-one (low-risk) mining jurisdiction and is comprised of a high-grade vanadium resource, amenable to an industry-standard processing route,” said Australian Vanadium CEO Graham Arvidson.

The Australian Vanadium Project is expected to produce 11,200 tonnes of vanadium pentoxide with a 25-year life of mine.

Read the full article here.

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