Australian Vanadium (AVL) has signed a joint co-operation agreement with Mid West Ports Authority (MWPA) for the future use of facilities and services at the key mid-west resources sector port facility in Geraldton in Western Australia.
The company is moving towards approval, funding and development of the Australian Vanadium project, which will produce a vanadium concentrate at the resource site and complete production of a high-purity vanadium and an iron titanium (FeTi) co-product at a processing plant located near the port city of Geraldton.
AVL’s chosen strategic location for its vanadium processing facility enables the sale of the FeTi co-product which enhances the project’s economic resilience through the addition of a secondary revenue stream.
The project is one of the most advanced vanadium projects being developed globally and will ship approximately 900,000 dry tonnes per annum of FeTi co-product through the Port of Geraldton over its 25-year life.
Signing a joint co-operation agreement allows AVL and MWPA to work cooperatively to define the best alternatives for the storage and shipping needs of the project.
MWPA is actively planning for future growth of the port facilities and AVL will become a key long-term partner in the port’s proposed expanded capabilities.
“Having confidence that Mid West Ports Authority will be able to directly accommodate our requirements is another big step in our pathway to production,” Australian Vanadium managing director Vincent Algar said.
“Improving confidence levels in our costings and providing necessary assurances for future access and communication is a major benefit as we finalise our BFS (bankable feasibility study) and move towards approvals and funding.”
This opportunity is globally unique to AVL due to the strategic location of the processing plant.
The Port of Geraldton will also be used as a receiving port for AVL’s processing reagents and large break-bulk equipment needed for the processing plant and crushing, milling and beneficiation plant at Meekatharra.
Through this relationship, AVL and MWPA also seek to define a long-term plan which integrates the needs of AVL with the strategic growth strategies of MWPA.
AVL’s selection of Geraldton as the preferred port for the export of its FeTi co-product was the catalyst for the agreement.
“We look forward to working with Australian Vanadium to develop the export and import capacity at Mid West Ports to facilitate their trade requirements,” MWPA acting chief executive officer Damian Tully said.
“This is an exciting project for the mid-west, and we look forward to playing a key role in its future development.”
The term of the agreement is 12 months, with extensions subject to the agreement of MWPA and the Minister if required.