Intermin, AXF complete joint venture agreement

Intermin Resources has completed its joint venture agreement with AXF Resources for the Richmond vanadium-molybdenum project in Queensland.

Under the joint venture, AXF will fund and manage $6 million of technical beneficiation and commercialisation studies over four years to earn a 75 per cent interest in the project.

Richmond’s tenements cover oil shale deposits that host extensive vanadium and molybdenum resources.

Intermin managing director Jon Price said, “With the current excitement around the use of Vanadium redox batteries for the growing energy storage market, we look forward to working with our JV Partners on the Richmond Project to unlock the potential of this very large resource.”

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.