davidf/iStock via Getty Images
davidf/iStock via Getty Images
Welcome to the Vanadium miners news.
August saw mixed vanadium prices with China prices moving higher and Europe moving lower. The ferrovanadium outlook remains weak due to reduced steel demand in China; however the vanadium pentoxide for VRFBs outlook continues to brighten. See market news below regarding the boost from the U.S Inflation Reduction Act.
Vanadium is traditionally used to harden steel. Chinese rebar standards are requiring more vanadium. Also Vanadium Flow Batteries [VRFBs] are becoming increasingly popular especially for commercial energy storage, most notably in China. Vanadium Pentoxide [V2O5] is used in VRFBs and Ferrovanadium [FeV] is used in the steel industry.
Europe Vanadium Pentoxide [V2O5] Flake 98% 1 year chart - Price = USD 7.30/lb (China price not given)
China and Europe Ferrovanadium [FeV] 80% prices - China = USD 35.00/kg, Europe = USD 31.75/kg
An April 2021 Wood Mackenzie report stated:
Global energy storage deployment surged a remarkable 62% in 2020, with 5 GW/9 GWh of new capacity added. This brought the total energy storage market to more than 27 GWh. Furthermore, we expect the global (energy storage) market to grow 27-fold by 2030.
Woodmac forecasts high growth ahead for solar, wind and energy storage
Global VRFB forecast growth by region 2022-2031
Energy Storage News, Courtesy: Guidehouse Insights
Energy Storage News, Courtesy: Guidehouse Insights
In 2017 Robert Friedland stated: "We think there's a revolution coming in vanadium redox flow batteries..."
On July 27 Investing News reported:
Vanadium market update: H1 2022 in review... Looking at what could happen on the demand side entering the second half of the year, steel production for long products, a substantial driver of Chinese vanadium demand, will remain steady over the coming quarters... The battery segment has also been an exciting area in vanadium, as interest in energy storage continues to increase... "Vanadium battery demand expectations are notoriously difficult to meet, with issues of supply and for the battery projects themselves being common"... Prices are likely to remain under pressure until the fourth quarter as supply, especially in the US, currently outweighs demand, according to CRU.
On August 16 Invinity Energy Systems (OTCQX:IESVF) announced:
U.S. Vanadium and Invinity sign MoU to form U.S. Joint Venture. Plan to manufacture and sell vanadium flow batteries in the United States to meet growing demand.
On August 22 Energy Storage News reported:
Will the US Inflation Reduction Act boost demand for flow batteries?... With the introduction of an investment tax credit [ITC] incentive for standalone energy storage, the act will reduce the capital cost of equipment for such projects by roughly 30%. The Inflation Reduction Act (IRA) also incentivises domestic manufacturing of clean energy technologies.
Glencore is a large vanadium producer, but vanadium production represents only a small portion of their revenue.
On July 29, Glencore announced: "Half-year production report 2022..." Vanadium was not mentioned.
2022 half-year report... Group Adjusted EBITDA to $18.9 billion. Marketing Adjusted EBIT more than doubled to $3.7 billion, with energy products the standout, while Industrial Adjusted EBITDA increased $8.4 billion to $15.0 billion period-on-period...
Share buy-back programme. Glencore plc (the "Company") announces the commencement of a programme to make market purchases of its ordinary shares (the "Shares") of an aggregate value of USD3 billion (the "Programme"), subject to market conditions, which may continue until the 2022 full year results are announced in February 2023.
AMG Vanadium is a leading provider of products and services for the metals, manufacturing, refinery and petrochemical industries. AMG Vanadium produces ferrovanadium and related ferroalloys from spent refinery catalysts using a proprietary pyrometallurgical process.
On July 28, AMG Advanced Metallurgical Group NV announced: "AMG Advanced Metallurgical Group N.V. reports record earnings for second quarter 2022." Highlights include:
You can view the latest investor presentation here.
Bushveld is a diversified AIM-listed resources company with a portfolio of vanadium, tin and coal assets in Southern Africa and Madagascar.
On July 28, Bushveld Minerals announced: "Q2 2022 and H1 2022 operational update." Highlights include:
You can view the latest investor presentation here.
Largo Inc. is a pure-play vanadium pentoxide producer from their Maracás Menchen mine in Brazil as well as a producer of VRFBs.
On August 4, Largo Inc. announced:
Largo Clean Energy signs non-binding MOU with Ansaldo Green Tech to negotiate the formation of a Joint Venture for the manufacturing and commercial deployment of vanadium redox flow batteries (VRFBs) in the European, African, and Middle East Power...
On August 10, Largo Inc. announced: "Largo reports solid second quarter 2022 financial results highlighted by net income of $18 million; provides revised 2022 production, cost and CAPEX Guidance." Highlights include:
You can view the latest investor presentation here.
Energy Fuels state they are "the No. 1 uranium producer in the U.S. with a market-leading portfolio", as well as being a small vanadium producer.
On August 9, Energy Fuels Inc. announced: "Energy Fuels announces Q2-2022 results, including continued robust balance sheet and market-leading U.S. uranium & rare earth positions."
FAR is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya Oblast of southern Kazakhstan. FAR state: "The ore at this site has a significantly higher grade than all other primary vanadium extraction sites, which allows for much lower processing costs."
No news for the month.
Western Uranium & Vanadium Corp. own the Sunday Mine Complex which is an advanced stage mine property consisting of five interconnected underground mines in Colorado, USA.
No news for the month.
Investors can read the latest company presentation here.
Neometals 100% own the Barrambie Titanium Vanadium Iron Project in Western Australia. Barrambie's Eastern Band is one of the highest grade hard rock titanium deposits globally.
On July 29, Neometals announced: "Quarterly activities report for the quarter ended 30 June 2022." Highlights include: Corporate
Core Battery Materials Business Units
Vanadium Recovery Project ("VRP") (earning into 50:50 JV with Critical Metals Ltd)
Barrambie Titanium and Vanadium Project ("Barrambie") (100% NMT)
You can view the latest investor presentation here.
Australian Vanadium [ASX:AVL] [GR:JT71] (OTC:ATVVF)
Australian Vanadium is an emerging vanadium producer focused on their Australian Vanadium Project in Western Australia. VSUN Energy was launched by AVL in 2016 to target the energy storage market for vanadium redox flow batteries [VRFBs].
On August 23, Australian Vanadium announced:
Vanadium drill program commencement. New diamond drill program underway in southern ore blocks at the Australian Vanadium Project to support Mineral Resource classification upgrades and metallurgical confirmation of higher vanadium concentrate grades.
You can view the latest investor presentation here, or read a Trend Investing CEO interview here.
The Company's primary exploration focus is on the 100% owned Gabanintha Vanadium Project located 40km southeast of Meekatharra in the mid-west region of Western Australia. Technology Metals Australia is studying ("Integration Study") to combine the high grade, high quality Yarrabubba deposit with the Gabanintha Vanadium Deposit to form the Murchison Technology Metals Project (MTMP).
On August 5, Technology Metals Australia announced: "MTMP mine life increased to 25 years maiden ilmenite reserve and production profile." Highlights include:
You can view the latest investor presentation here.
TNG is an Australian resources company focused on the evaluation and development of its Mount Peake Vanadium-Titanium-Iron project. The Mount Peake Project is located 235km north-northwest of Alice Springs in the Northern Territory of Australia. TNG Ltd is well advanced with a massive $4.7b NPV8%, but relies on titanium and iron with a lower grade vanadium by-product.
On August 1, TNG Ltd. announced: "TNG receives further financial backing with Korean Export Credit Agency K-SURE issuing a letter of support for up to A$200m in debt funding for the Mount Peake Project. The conditional finance support from K-SURE is another cornerstone component of the multi-source, global funding package for TNG'S flagship Mount Peake Project." Highlights include:
On August 16, TNG Ltd. announced:
TNG acquires strategic lithium exploration tenure near its flagship Mount Peake Project. Acquisition of large strategic exploration portfolio covering the Northern Arunta Pegmatite Province includes numerous highly prospective lithium targets...
You can view the latest investor presentations here.
Vanadium Resources is a junior exploration company established with the purpose of exploring and developing gold zinc, lead, copper, and other mineral opportunities. Vanadium Resources owns 74% of a globally significant vanadium project, the Steelpoortdrift [SPD] Project, in Gauteng Province, South Africa.
On July 28, Vanadium Resources Limited announced: "Activities report - June quarter 2022." Highlights include:
On August 19, Vanadium Resources Limited announced: "Acquisition of property to locate salt roast facility."
You can view the latest investor presentation here.
King River holds 785 square kilometres of mineral leases covering a unique geological feature in the Eastern Kimberley of Western Australia, called the Speewah Dome. The company state on their website: "The focus of King River Copper Limited is the exploration for Gold, Silver and Copper." However their deposits also contain vanadium.
No news for the month.
You can view the latest investor presentation here.
Vanadiumcorp Resources Inc. 100% owns the Lac Dore Vanadium-Iron-Titanium project in Quebec Canada. The Company also has royalties on the Raglan Nickel-PGM mine. The Company is looking to take a vertically integrated approach and is also developing leading process technologies 'VanadiumCorp-Electrochem Processing Technology' and "Electrochem globally patented Electrowinning" technology.
No news for the month.
You can view the latest investor presentation here.
RVT now owns 100% of the Richmond Vanadium Project. It has a global Mineral Resource of 1.8Bt @ 0.36% Vanadium Pentoxide (V2O5).
On August 9, Richmond Vanadium Technologies Pty Ltd announced:
Miner throws in cash for battery IPO. Miner Horizon Minerals will invest in battery manufacturer Ultra Power Systems, which manufactures vanadium batteries, via its partially owned subsidiary Richmond Vanadium Technology. It holds 25%. Richmond Vanadium Technology will invest up to $5 million in the company prior to its planned initial public offering on the ASX, giving it first dibs to supply all vanadium to Ultra and giving it a seat at the board.
On August 10, The North West Star reported:
Richmond Vanadium signs deal with battery module maker Ultra. Richmond Vanadium Technology has signed a Binding Term Sheet to invest up to five million dollars into battery company Ultra Power Systems as part of its ASX initial public offering. Under the deal RVT will have the right to supply all vanadium offtake to UPS and will appoint a representative director to the UPS board... Under the term sheet RVT will subscribe for up to 20,000,000 shares valued at 25 cents per share in Western Australian energy technology company, Ultra Power Systems subject to a successful listing of RVT on the Australian Securities Exchange, in which the company intends to raise between $25-35 million.
The Carlin Gold-Vanadium Property hosts one of North America's largest richest primary vanadium deposits, located in Nevada. Its West Jerome project targets a large-scale high-grade copper and zinc deposit in Arizona. Carlin has a Historic Inferred Resource 28Mt at 0.525% V2O5 (2010 SRK).
No news for the month.
Investors can read the latest company presentation here.
August saw mixed vanadium prices with China prices moving higher and Europe moving lower.
Highlights for the month include:
As usual all comments are welcome.
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