Australian Vanadium gets state assistance
Mining News Pro - The Western Australian Department of Mines, Industry Regulation and Safety has awarded the Australian Vanadium project Lead Agency status.
According to Mining News Pro – “Formal recognition of the importance of the Australian Vanadium project to Western Australia by the state government is a crucial step forward. The status provides greater certainty to those considering an investment in the project, which is already located in a tier 1 global mining destination,” said Australian Vanadium MD Vincent Algar.
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The state’s award of Lead Agency status comes after the federal government awarded the project Major Project status in September of last year.
Algar noted that the project would have a significant effect on the Western Australian economy, creating 500 jobs during construction and a further 240 jobs during construction.
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A previously completed prefeasibility study estimated that some 22.5-million pounds a year of vanadium pentoxide could be produced over an initial mine life of 17 years, with the project requiring a capital injection of $354-million.
A pilot scale study, with the intention to prove the process at scale, is nearing completion.