Australian Vanadium shoulders into China’s steel sector with Win-Win offtake-finance agreement
Date: Jun 27, 2018
Australian Vanadium and Win-Win Development Group are negotiating potential offtake and financing arrangements for advancing Australian Vanadium’s Gabanintha vanadium project.
Australian Vanadium (ASX: AVL) has collared a memorandum of understanding with China-based steel and alloy manufacturer Win-Win Development Group to discuss potential offtake and finance opportunities for the Gabanintha vanadium project.
According to Australian Vanadium, Win-Win is developing a facility that will be able to produce 5,000 tonnes per annum vanadium carbon nitrate, which requires up to 8,000tpa of 98% vanadium pentoxide.
Win-Win is building the facility in stages with the first phase needing up to 3,000tpa 98% vanadium pentoxide and is due for commissioning in 2019.
Additionally, Win-Win has a stake in an operational production line that is generating 2,400tpa of vanadium carbon nitride for the steel sector.
Australian Vanadium claims Win-Win’s development time-line coincides with the schedule for its flagship Gabanintha project in Western Australia.
“The Win-Win team are fully in-tune with the needs of the vanadium alloy market in China,” Australian Vanadium managing director Vincent Algar commented.
