Largo Resources (TSXV:LGO) has announced a 40 percent increase in mineral reserves at the Campbell pit at its Maracás Menchen vanadium mine in Brazil.
As quoted in the press release, highlights included:
40% increase in Proven and Probable Mineral Reserves to 18.4 million tonnes, at a grade of 1.17% V2O5.
Retrospective increase of 51%
TNG announced that it has signed a binding life of mine (LOM) offtake agreement with Korea’s Woojin for vanadium products from the Mount Peake vanadium-titanium-iron project in the Northern Territory.
Earlier this week, Evraz Highveld Steel and Vanadium filed for voluntary business rescue. While that’s bad news for the company, other players in the vanadium space could benefit.
This new deal will see Woojin transfer its proprietary ferrovanadium technology to TNG. That will allow the Australian company to convert vanadium pentoxide into high-value ferrovanadium at a conversion plant that will be established at TNG’s TIVAN refinery site.
TNG Ltd. (ASX:TNG) announced that it has signed an agreement with Korea-based ferrovanadium producer Woojin Industrial Co. Ltd. (WJN) for the sale of up to 60 percent of the vanadium from its flagship Mount Peake vanadium-titanium-iron project.
Baobab Resources plc (LSE:BAO) provided an operations update, commenting that it is in the midst of completing a definitive feasibility study at its Tete pig iron and ferrovanadium project.
Mining Weekly reported that pyrometallurgical testing at Bushveld Minerals Ltd.’s (LSE:BMN) Limpopo-based vanadium project has “confirmed the viability of using a salt roast process to produce vanadium pentoxide flakes or ferrovanadium from the project’s main magnetite layer.”
TNG Ltd. (ASX:TNG) announced that it has signed a letter of intent (LOI) with Korean ferrovanadium producer Woojin Ind. Co. Ltd. regarding vanadium offtake from its Australia-based Mount Peake vanadium-titanium-iron project.
Bushveld Minerals Ltd. (LSE:BMN) provided an update on pyrometallurgical testwork at its South Africa-based Bushveld vanadium and P-Q deposits.
Baobab Resources plc (LSE:BAO) announced that it has received analytical results from the first 10 reverse-circulation drill holes completed on the Tenge resource block of its Mozambique-based Tete pig iron and ferrovanadium project.
AMM.com reports that Atlantic Ltd. and its subsidiary, Midewest Vanadium Pty Ltd., have reported a “substantial increase in vanadium production” at the Windimurra Mine in Western Australia, though ferrovanadium output has been impacted by mechanical issues.
Two scientific discoveries this week could have vanadium investors looking at the specialty metal in a whole new light.