VanadiumCorp to benefit from rising vanadium spot prices
Date: Aug 17, 2018
Vanadium was first discovered in 1801. It was mistaken for chromium and wasn’t rediscovered for another 30 years. One of the most important industrial uses of vanadium is in the making of steel alloys, added in small quantities, as little as 0.15% vanadium is proven to double the strength of the alloy. This steel is used to make special tools and equipments. It is used in steel rebar, car gears, crank shafts, pipes and tubes in the chemical industry etc. In most recent years vanadium has emerged as a useful mineral for energy storage batteries. Henry Ford was one of the first exponents of the metal, using it to strengthen the Model T – the car credited with introducing the automotive industry to the masses in the early 1900s. Fast forward to today as the EV boom is taking off, vanadium is also booming due to its use in steel rebar and vanadium redox flow batteries. The world is slowly transitioning away from fossil fuels, and the metal could have a big role to play particularly in large scale energy storage.Vanadium spot prices have almost tripled over the past year, while many other EV and base metals have recently fallen; vanadium continues to rise in value. China’s new steel rebar rules requiring vanadium is the main reason.
VanadiumCorp Resource Inc. (TSXV: VRB) intends to become the leading vanadium supplier to the emerging vanadium battery market for grid level and renewable energy storage. The Company is located in Quebec, Canada. VanadiumCorp’s proprietary breakthrough process is 100% green with unprecedented recovery of metal value. Further advantage is 100% ownership and development of two of the purest deposits in the world.Lac Doré Vanadium ProjectThe Company’s flagship 100% owned Lac Dore project spans over 45 km2 and is located close to the mining town of Chibougamau in mining friendly Quebec, Canada. Their current NI 43-101 vanadium resource measures 621 million lbs V2O5 from VTM concentrate grading 1.08% V2O5. Mineralization is at surface, open at depth and along strike, with nearby infrastructure such as road, rail, 161Kv power, workforce, water and a local airport. The Company also has another smaller project known as the Iron-T Vanadium Project also in Quebec, and royalties on the Raglan Nickel-PGM mine.
