Australian Vanadium Limited (AVL) is set to establish itself as a major vanadium producer with the completion of its merger with Technology Metals Australia (TMT).
The $217 million merger will see the companies’ two adjoining ore bodies consolidate into one project.
Work is now underway to assess vanadium concentrate quality at the sites as AVL gears up to progress the integrated project to production.
AVL will also continue to assess downstream opportunities in its goal to become one of the largest and most advanced vanadium development projects in the world.
The company will pursue growth initiatives in the vanadium flow battery (VFB) market through its wholly owned subsidiary, VSUN Energy, and operating its recently constructed vanadium electrolyte manufacturing facility in Western Australia.
Wood Group has commenced work on an optimised feasibility study, which is due complete its first phase by mid-2024.
The study aims to develop mining and processing schedules while reducing overall costs and maximising returns.
“AVL’s long-term aim remains the pursuit of a pit-to-battery strategy for vanadium, with our intent to manufacture vanadium electrolyte using vanadium oxide from our project, demonstrating our commitment to onshore downstream processing and value-addition, while providing a large proportion of local content which is unrivalled by other battery technologies,” the company said.
“We see inevitable growth in the VFB market as becoming central to domestic demand for vanadium.”
At the same time the merger was realised AVL also welcomed the appointment of non-executive director Jo Gaines to the company’s board of directors.
Gaines was previously the deputy chief of staff to the Premier of Western Australia, where she was a leader in policy development.
“We extend a warm welcome to Jo at this important point in the development of our integrated vanadium project, following the successful merger,” AVL chair Cliff Lawrenson said.
“Jo’s experience in working with both state and Federal governments will be invaluable to the company as we continue to progress approvals and financing of the project.”
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