The Western Australian Government has awarded the Australian Vanadium project with lead agency status, providing the development with simplified approval processes.
The lead agency framework, provided by Western Australia’s Department of Mines, Industry Regulations and Safety, offers complex projects a single point of entry and assigns one department to assist and coordinate approvals.
Australian Vanadium plans to develop a high-grade vanadium-titanium-iron deposit in the Murchison region of Western Australia. It is currently progressing through feasibility studies.
Managing director Vincent Algar said the status approval was recognition of the importance of the project to Western Australia.
“The status provides greater certainty to those considering an investment in the project, which is already located in a Tier 1 global mining destination,” he said.
Last month, the project received a ‘major project’ status from the federal government, highlighting the contribution it is expected make to the Western Australian economy.
The project is expected to support an initial 17-year mine life, creating 500 jobs during construction and 240 during production.
Vanadium is on the critical minerals list for Australia, the United States, the United Kingdom and the European Union.
The Australian Vanadium project has an estimated mineral resource of 208 million tonnes at 0.74 per cent vanadium pentoxide.
Western Australian Mines and Petroleum Minister Bill Johnston extended his support for the project.
“Vanadium is proving to be a key component in battery technology and renewable energy storage and has been influential in forming the Western Australian Future Battery Industry Strategy, which was officially launched in January 2019,” Johnston said.
“The Australian vanadium project demonstrates that Western Australia continues to be the leading jurisdiction for the ethical and sustainable production of battery and critical minerals.”