Australian Vanadium (AVL) is negotiating a technical services and purchase agreement for its vanadium products with Hebei Yanshan Vanadium and Titanium Industry Technology Research.
AVL’s managing director Vincent Algar and chief operating officer Todd Richardson will also be visiting Titanium Industry Technology Research’s parent company HBIS Group Chengsteel in China to commercialise research and innovation in the steel industry.
HBIS Group Chengsteel is the third largest vanadium producer in the world.
The visit will not be AVL’s first. Algar visited the site last year for a conference and to begin discussions about working together.
“We were invited by Yanshan Vanadium Titanium to attend a conference last year and to meet with the company,” Algar said.
“Discussions were productive and highlighted a desire by Yanshan Vanadium Titanium to become more involved in AVL’s project.
“We are now visiting Chengde this month to further these discussions and move towards a formal agreement.”
Yanshan Vanadium Titanium has expressed its interest in assisting with the processing design for AVL’s flagship project.
The upcoming visit will allow Richardson to have technical discussions with the team to improve the project’s process, which Yanshan Vanadium Titanium believes could result in cost improvements.
The Australian Vanadium project, which is one of the highest-grade projects being advanced globally was granted major project status by the federal government last September.
It has a high-grade zone of 96.7 million tonnes at 1 per cent vanadium pentoxide (V2O5) and an ore reserve of 18.24 million tonnes at 1.04 per cent V2O5.