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Reuters reported that vanadium miners are prepared for the anticipated boom in the use of green technology and subsequent demand for vanadium.
Reuters reported that vanadium miners are prepared for the anticipated boom in the use of green technology and subsequent demand for vanadium.
As quoted in the market news:
Analysts estimate demand for vanadium in mass storage and electric vehicle batteries will hit about 20,000 tonnes a year by 2014. Steelmaking and aerospace demand is expected to grow from about 60,000 tonnes to 70,000 tonnes in the same period. With current production dominated by China, Russia and South Africa, securing vanadium supply in the Americas has become a focus for end users.