Prophecy’s Oosterman on being the only U.S. player for vanadium supply
Date: Jun 27, 2018
June 26, 2018 – “China controls about 56% of the vanadium in the world. The other two big players are Russia and South Africa. As a result, of course, it has been deemed as a strategic metal. The United States, for example, imports about 99% of its vanadium. It is a key metal in construction. It is a key metal in the aerospace industry. Really this is where our project is poised to basically be the only player in the United States for vanadium supply.” states Danniel Oosterman, Vice President of Exploration at Prophecy Development Corp. (TSX: PCY | OTCQX: PRPCF), in an interview with InvestorIntel Corp. CEO Tracy Weslosky.
Tracy Weslosky: Vanadium is one of those critical materials with regards to a lot of sustainability issues that are currently happening today that very few people understand. Would you mind giving us kind of an introduction to vanadium?
Danniel Oosterman: Vanadium, even though it is not widely known about, it is widely used and widely applied in a number of applications. The principle application is actually steel. 92% of vanadium used in the world is used in steel. A small percentage added to steel actually doubles the strength and lightens it by 30%. As such it is ideal for, not only, rebar in construction and steel for skyscraper and such, but actually it is very useful in the aerospace industry as well.
Tracy Weslosky: Of course, we cannot forget the electric vehicles and the battery storage sector.
