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May 28, 2025
Critical minerals and energy company QEM Limited (ASX: QEM) is pleased to announce that it has received firm commitments to raise A$2.05 million (before costs) via a Placement to institutional and sophisticated investors.
Highlights:
- Firm commitments secured to raise A$2.05 million via a well- supported Placement to accelerate development of the Julia Creek Vanadium and Energy Project (JCVEP).
- Leadership transition: Founding MD & CEO Gavin Loyden to retire at the end of FY25, after 11 years of visionary leadership.
- New appointment: Seasoned global mining executive Robert Cooper named incoming CEO and MD to lead the Company into its next growth phase.
The Placement proceeds will fund key workstreams to advance the Julia Creek Vanadium and Energy Project (JCVEP) — one of the world’s largest co-located vanadium and oil shale resources—as it progresses into the Pre-Feasibility Study (PFS) phase.
Leadership Transition to Drive Next Stage of Growth
With the Company entering a new stage of development, Managing Director and CEO Gavin Loyden has advised that he will retire at the end of the current financial year.
Mr Loyden founded QEM in 2014 and has been instrumental in shaping the Company's vision, securing the Julia Creek asset, and progressing it into a nationally significant critical minerals project.
Gavin Loyden, Managing Director, said: “With the Company now in a strong cash position, ready for commencement of a PFS on the Julia Creek Project, and after a total of 11 years since founding QEM in 2014, now is the perfect time for me to retire and hand over leadership to a highly experienced global mining executive. I am very happy that the Company has been able to attract a new CEO with the global credentials that Robert brings to QEM and I’m excited for the future of the Company.”
QEM Chair Tim Wall added; “On behalf of the Board and shareholders, I sincerely thank Gavin for his vision, leadership, and tireless contribution in realising the strategic ambition he set in 2014—to establish QEM as a leading critical minerals and energy fuel supplier unlocking world-class resources in NW Queensland.”
Incoming CEO: Robert Cooper
The Board is pleased to announce the appointment of Robert Cooper as QEM’s new CEO and Managing Director, commencing July 2025.
Mr Cooper brings over 30 years of global mining experience, including senior executive leadership and non-executive board roles across the resources and battery materials sectors. He most recently served as MD/CEO of New Century Resources, and prior to that, as CEO of Round Oak Minerals, a wholly owned subsidiary of Washington H. Soul Pattinson (ASX:SOL). He has held senior roles with Discovery Metals, BHP, and has been a NED at Novonix (ASX:NVX), Syndicated Metals, and Verdant Minerals.
Tim Wall, Chair, said: “I welcome Robert Cooper as QEM’s CEO to lead the next phase of our development. His deep technical, strategic, and commercial background in global metals exploration, project development, and operations—along with his experience in the battery materials space—stand him in strong stead to lead QEM through this next chapter.”
Click here for the full ASX Release
This article includes content from QEM Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
25 July
Top 5 Australian Mining Stocks This Week: Vanadium Resources Soars on DSO Offtake Deal
Welcome to the Investing News Network's weekly round-up of Australia’s top-performing mining stocks on the ASX, starting with news in Australia's resource sector.
This week, gold companies continued to shine in Australia, joined by battery and base metals explorers and developers.
In corporate news, Brightstar Resources (ASX:BTR) has announced its AU$60 million all-stock acquisition of Aurumin (ASX:AUN), consolidating their assets in the Sandstone region of Western Australia.
The merger will create a district-scale, open-pit gold development platform with a combined resource of 3.9 million ounces at 1.5 grams per tonne (g/t) gold.
Market and commodity price round-up
The S&P/ASX 200 index opened at 8,757.10 on Monday (July 21) and closed at 8,666.90 on Friday (July 25), reflecting a 1.03 percent decline over the period.
As for precious metals, gold demonstrated a 0.22 percent rise in US dollars, going from US$3,350.00 on July 21 to US$3,357.29 by the close of Australian trading July 25. On the other hand, gold decreased 0.9 percent in Australian dollars, moving from AU$5,148.63 to AU$5,102.43 over the same period.
Silver saw a rising slope in US dollars through Friday, starting the week at US$38.18 and closing at US$39.07, showing a 2.33 percent increase. In Australian dollars, silver traded at all time highs during the week. The metal jumped 1.19 percent, from AU$58.67 to AU$59.37.
Top ASX mining stocks this week
How did ASX mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Australian mining stocks below as we break down their operations and why these mining stocks are up this week.
Stock data for this article was retrieved at 4 p.m. AEST on July 24 using TradingView's stock screener and reflects price movements between July 21 and July 24. Only companies trading on the ASX with market capitalizations greater than AU$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Vanadium Resources (ASX:VR8)
Weekly gain: 105 percent
Market cap: AU$23.14 million
Share price: AU$0.041
Vanadium Resources is a vanadium company with headquarters in Perth, Australia. It is currently transitioning to production at its flagship Steelpoortdrift vanadium project located within the Bushveld Geological Complex and Steelpoort Valley in South Africa.
The company is currently focused on advancing near-term, early-stage cash flow opportunities at Steelpoortdrift that will allow it to fund its long-term plans at the site.
Steelpoortdrift has a JORC mineral resource estimate of 680 million tonnes at an average in-situ grade of 0.7 percent vanadium pentoxide. Vanadium Resources laid out its plan in a 2022 definitive feasibility study to process ore from the mine into vanadium concentrate, which would be further processed into high-purity vanadium pentoxide flake and powder at an on-site salt roast leach processing plant.
On June 18, Vanadium Resources updated investors that it has made traction on discussions related to all three of its near-term initiatives: direct shipping ore (DSO) sales, concentrator development and concentrate offtake, and access to third-party processing infrastructure located adjacent to the market.
“(We are) preserving the option to pursue full-scale development once vanadium market conditions materially improve,” the company stated.
On Tuesday (July 22), the company announced big news related to the first initiative: a binding two-year agreement with China Precious Asia to supply 100,000 tonnes per month of vanadium-rich magnetite DSO from Steelpoortdrift. The offtake agreement positions Vanadium Resources to advance its status from developer to producer.
A trading halt was requested by Vanadium Resources on Wednesday (July 23), pending the release of an announcement. Trading will recommence Friday, July 25.
2. Great Western Exploration (ASX:GTE)
Weekly gain: 83.33 percent
Market cap: AU$11.36 million
Share price: AU$0.022
Great Western Exploration is focused on exploring for copper, gold and base metals in Western Australia.
At present, it is exploring its flagship Yerrida North project, located approximately 800 kilometres north-east of Perth.
The company announced on July 7 that it had begun a close-spaced ground gravity survey at the Oval and Oval South targets at Yerrida North following drill results in May indicating a potential volcanic hosted massive sulphide target.
Great Western shared in the same announcement that it is well-funded for future exploration projects, having a cash position of AU$3.7 million.
While the company hasn’t issued any updates since, its shares witnessed a significant rise this week.
3. Peregrine Gold (ASX:PGD)
Weekly gain: 72.97 percent
Market cap: AU$22.06 million
Share price: AU$0.32
Pilbara-focused Peregrine Gold is a gold and lithium exploration company currently concentrating on its Newman gold project tenement.
While on the lookout for gold, the company revealed in a Monday (July 21) release it discovered a large-scale channel iron deposit (CID) at Newman during ongoing stream sediment sampling. Samples returned average grades of 57 percent iron.
Peregrine has mapped the deposit, which it named the Coopers CID prospect, over 6.4 kilometres in strike and up to 200 metres in width.
In the release, Peregrine stated it plans to quickly advance Coopers towards drill testing.
This spiked more interest in the company, with shares reaching AU$0.32 on Thursday (July 24).
4. DeSoto Resources (ASX:DES)
Weekly gain: 52.17 percent
Market cap: AU$27.08 million
Share price: AU$0.175
DeSoto Resources is an exploration company with a large gold project portfolio in Guineau as well as lithium, gold and rare earth element projects in the Northern Territory, Australia.
The company gained its Guineau portfolio in February 2025 through a 100 percent acquisition of private company Angex Australia, which held over 1,200 square kilometres of exploration ground. The acquisition included 14 gold projects in the country’s Siguiri Basin and three in the Gaoual gold belt.
DeSoto’s team is familiar with the region, as its chairman and non-executive director previously made the Bankan discovery in Guineau as part of Predictive Discovery (ASX:PDI).
Since the acquisition, the company has been performing mapping and sampling at many of the Guineau projects. In an exploration update on Thursday, DeSoto said that results from auger drilling at the Dadjan project showed grades up to 5.73 g/t gold.
As for its projects in Australia, earlier in the week, the company announced assay results from shallow auger drilling at its Tole gold project in the Northern Territory. It highlighted a result of 8 metres at an average grade of 18.03 g/t gold, including 2 metres at 72.2 g/t.
Shares of the company rose through the week following the exploration updates.
5. FirstAU (ASX:FAU)
Weekly gain: 50 percent
Market cap: AU$12.46 million
Share price: AU$0.006
FirstAU is a gold and base metals exploration company with projects in Australia and Liberia.
Its flagship Australian asset is the Victorian Goldfields gold project in Victoria’s Eastern Goldfields. It acquired the final 20 percent interest in the project in April 2025 and is now the sole owner.
The Victorian gold project holds the Haunted Stream prospect, for which maiden drilling results from June 2023 returned 13 metres at 3.57 g/t gold and 8 metres at 3.45 g/t gold.
In West Africa, the company is currently focused on developing the Nimba gold project located in Nimba County, Northern Liberia, within the Archean-age West African Craton. FirstAU entered an earn-in agreement with Hamak Gold (LSE:HAMA) to acquire the project in May of this year.
Under the earn-in agreement, FirstAU will issue 100 million shares and pay AU$250,000 in cash to Hamak Gold to progressively earn up to 70 percent interest. FirstAU also has the option to acquire 100 percent ownership.
On Tuesday, FirstAU announced the commencement of 3,000 meters of diamond drilling at the Nimba project. Following the announcement, shares of First AU jumped from Tuesday’s close of AU$0.004 to AU$0.006 Wednesday.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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02 July
QEM Appoints Robert Cooper as Director, following Leadership Transition
Critical minerals and energy company QEM Limited (ASX: QEM) is pleased to announce completion of the previously announced Leadership Transition (refer ASX Announcement 29 May 2025).
Highlights:
- Seasoned global mining executive Robert Cooper has completed a comprehensive handover and is appointed to the QEM board as MD & CEO effective 2 July 2025.
With the Company entering its next stage of development, founder Gavin Loyden has retired as Managing Director and CEO effective 1 July 2025.
Mr Loyden has been instrumental in shaping the Company's vision since 2014, securing the Julia Creek asset and progressing it into a nationally significant critical minerals project.
The Board is pleased to announce that Robert Cooper is appointed to the QEM board as Managing Director, effective 2 July 2025
Mr Cooper brings over 30 years of global mining experience, including senior executive leadership and non-executive board roles across the resources and battery materials sectors. He most recently served as MD/CEO of New Century Resources, and prior to that, as CEO of Round Oak Minerals, a wholly owned subsidiary of Washington H. Soul Pattinson (ASX:SOL). He has held senior roles with Discovery Metals, BHP, and has been a NED at Novonix ASX:NVX), Syndicated Metals, and Verdant Minerals.
Click here for the full ASX Release
This article includes content from QEM Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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12 June
Vanadiumcorp Announces Grant Of Stock Options
VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTC: VRBFF) ("VanadiumCorp" or the "Company") Vancouver, British Columbia – June 12, 2025 – VanadiumCorp Resource Inc. (TSX-V: VRB) (FSE: NWNA) (OTCBB: APAFF) (the "Company”) announces that it has granted, pursuant to its 10% rolling Stock Option Plan, stock options to certain eligible directors, officers and consultants of the Company or its subsidiaries to purchase a total of 1,076,714 common shares in the capital of the Company, subject to any regulatory approval. The stock options are exercisable for a period of five years at an exercise price of $0.12 per share and vest as to 50% immediately and 50% in one year.
About VanadiumCorp:
VanadiumCorp is a Canadian Critical metals exploration company owning 100% of two strategic properties in Quebec: The Iron T and the flagship Lac Doré property. The company is advancing innovative technologies to extract vanadium-titanium and potentially high-grade iron from its vanadiferous titanomagnetite projects. The successful implementation of these technologies is expected to ensure a stable, long-term supply of the company's critical metal deposits, which include vanadium feedstock for electrolyte production. Our initial electrolyte facility, located in Val-des-Sources, Quebec, will serve a dual purpose: evaluating the quality of the outputs and facilitating the initial production of electrolytes. Furthermore, the company intends to expand its production of electrolytes for the international market, specifically for long-duration Vanadium Flow Batteries (VRBs).
On behalf of the Board of VanadiumCorp Resource Inc.
“Kristien Davenport”
President, CEO and Director
VANADIUMCORP RESOURCES INC.
For more information, please visit the company website www.vanadiumcorp.com
Email: info@vanadiumcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This document may contain forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) regarding, among other things, VanadiumCorp's business. and the environment in which it operates. In general, forward-looking statements can be identified by the use of words such as "anticipates", "expects" or "does not expect", "is expected", "budget", "forecast", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "could" or "will be taken", "occur" or "will be achieved". VanadiumCorp relies on a number of assumptions and estimates to make these forward-looking statements, including, without limitation, the ability to acquire the necessary permits and authorizations to advance the Lac Doré property to the production stage, the ability to add to existing resources at Lac Doré through drilling, the costs associated with the development and operation of its properties. These assumptions and estimates are made in light of forecasts and conditions that are considered relevant and reasonable based on available information and current circumstances. A number of risk factors may cause actual results, level of activity, performance or results of such exploration and/or mine development to differ materially from those expressed or implied by such forward-looking statements, including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the ability to modify project parameters as plans continue to be refined, the ability to execute planned future exploration and drilling programs, the need for additional financing to continue exploration and development efforts, changes in general economic, market and business conditions, and other risks outlined in VanadiumCorp's latest Annual Information Form under the heading "Risk Factors" and in its other public documents. Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and that may be beyond VanadiumCorp's control. Although VanadiumCorp has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in the forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly, undue reliance should not be placed on these forward-looking statements. In addition, all forward-looking statements in this press release are made as of the date of this press release. VanadiumCorp disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The forward-looking statements contained herein are expressly qualified by this disclaimer.
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29 May
Top 4 Vanadium-producing Countries
In 2025, the vanadium market is navigating a complex landscape shaped by its traditional role in steelmaking and its emerging importance in energy storage technologies.
Approximately 90 percent of vanadium consumption continues to be driven by the steel industry, where it is used to strengthen alloys. However, the growing adoption of vanadium redox flow batteries (VRFBs) for grid-scale energy storage is creating new avenues for demand, particularly as countries pursue decarbonization goals and renewable energy integration.
On the supply side, vanadium sees relatively limited primary production from ore and instead relies on co-production from steel slag and uranium mining, with a portion also coming from recycling.
Global production has remained relatively consistent in the 2020s at around 100,000 metric tons per year.
Four countries contribute to the vast majority of that output. Below is a brief overview of these top vanadium-producing countries based on data from the US Geological Survey's 2025 Mineral Commodity Summary.
1. China
Mine production: 70,000 metric tons
China remains the world’s top vanadium-producing country by far, with output of 70,000 metric tons in 2024. Production has remained steady out of China in 2023 and 2024. The Asian nation far outpaces all other countries in terms of vanadium output, and leads the world in vanadium consumption as well due to its high steel production. The majority of its vanadium is produced from steel slag.
In terms of vanadium exports, China's are "quite small," according to Fastmarkets, as producers can turn a bigger profit in the domestic market.
2. Russia
Vanadium production: 21,000 metric tons
Second on the list is Russia, whose vanadium output totaled 21,000 metric tons in 2024, essentially on par with production in the previous two years. Russia’s vanadium reserves are the second largest in the world at 5,000 MT.
EVRAZ KGOK, part of EVRAZ, is a major mining company in Russia that produces vanadium. Little other information is available about vanadium mining in Russia, and the majority of the country's vanadium production is a co-product of steel slag.
3. South Africa
Vanadium production: 8,000 metric tons
South Africa's vanadium output declined last year, slipping to 8,000 metric tons in 2024, The country's vanadium output had previously held above the 8,500 MT per year a level since 2019.
South Africa’s contributions to the vanadium market consist of primary production from Bushveld Minerals (LSE:BMN) and Glencore (LSE:GLEN,OTC Pink:GLCNF). Bushveld Minerals’ vanadium division includes the Vametco mine and processing facility, the Vanchem processing facility, and the future Mokopane vanadium mine and the Belco production plant. Glencore's Rhovan open-cast mine and smelter complex mainly produces ferrovanadium and vanadium pentoxide.
4. Brazil
Vanadium production: 5,000 metric tons
Brazil's vanadium output has also contracted year-over-year, totaling 5,000 metric tons in 2024 compared to 5,420 MT in 2023.
Brazil’s vanadium production is largely thanks to Largo Resources (TSX:LGO,NASDAQ:LGO), which describes itself as the only pure-play vanadium producer. The company’s Maracás Menchen vanadium asset is one of the highest-grade vanadium mines in the world.
FAQs for vanadium
Who is the largest exporter of vanadium?
Brazil is the world’s largest exporter of vanadium, with Russia in second place and China and South Africa nearly tied. Brazil alone is responsible for over one-quarter of the metal’s global export market, and the four combined represented 84 percent of the market in 2023.
Which country has the most vanadium reserves?
Australia has the highest vanadium reserves in the world, coming in at 8.5 million MT as of 2024, although it should be noted that only 3 million MT are JORC compliant. Russia is in second place with 5 million MT of vanadium reserves, while China is next in line with vanadium reserves of 4.1 million.
What is vanadium used for?
Vanadium is essential in various alloys, with the most common being ferrovanadium, an alloy of iron and vanadium metal that is used in steel production. Beyond these traditional applications, the silvery-gray metal's uses in the battery industry are growing — it's increasingly being used in vanadium redox batteries for large-scale stationary energy storage.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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03 February
Australian Vanadium Asset Gets Green Energy Major Project Status
Australian Vanadium (ASX:AVL,OTC Pink:ATVVF) announced its asset has been selected as a lead agency advice and support project under the Western Australian government’s new Lead Agency Framework.
In a January 29 release, the company said the framework falls under the government’s Green Energy Major Projects group, established in December 2024 as “the first point of contact for green energy projects in Western Australia.”
State government agencies will work together under the projects group to streamline approvals, developing clear assessment pathways and providing support for project proponents and investors.
“Being recognised under the Western Australian Government’s Lead Agency Framework is a significant development for (our company), highlighting (our) project’s importance in Australia’s energy transition,” said CEO Grahan Arvidson.
Located in Western Australia's Murchison province approximately 43 kilometres south of the mining town of Meekatharra, Australian Vanadium’s namesake project is set to unlock domestic vanadium production.
The company states on its website that the project is one of the largest and highest-grade vanadium deposits being developed globally. According to a resource estimate released by Australian Vanadium this past May, the total resource for the project stands at 395.4 million tonnes at 0.77 percent vanadium pentoxide.
The Australian Vanadium project has received government recognition in the past — in March 2022, the company was granted development funding of AU$49 million from the federal government.
Last month, the firm received environmental approval from the Western Australian government for its Gabanintha vanadium project, which is also located in the state's Murchison province.
Both properties fall under the company’s strategy to align with the Australian government’s "Future Made in Australia" plan, which is geared toward domestic manufacturing and the transition to a net-zero economy.
“We look forward to collaborating with the government to accelerate project development and deliver lasting benefits to Australia’s economy and clean energy future," Arvidson said.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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16 January
Vanadium Market Forecast: Top Trends for Vanadium in 2025
The vanadium market is set to shift in 2025, driven by demand from the energy storage and steel sectors.
Energy storage systems that utilize vanadium redox flow batteries (VRFBs) are gaining traction as renewable energy deployment accelerates, boosting demand for high-purity vanadium. However, global supply remains constrained due to limited mining projects and geopolitical uncertainties, particularly in China and Russia, key producers.
Environmental regulations and advances in recycling technology may also influence supply dynamics, and market observers are watching potential price volatility tied to steel demand, the largest end use of vanadium globally.
In September 2024, China introduced new rebar standards that are anticipated to boost high-quality vanadium demand.
“Production of rebar with the new standards will increase per annum vanadium nitrogen consumption by roughly 15 percent,” a July Fastmarkets report notes. “That calculation is based on China’s 2023 rebar production volume.”
“Vanadium demand in steel alloys will rise in 2025 due to change in Chinese rebar standards. However, expected demand rise in steel will not be as high as estimated from battery manufacturing in the medium term due to slowdown in the Chinese construction industry,” said Piyush Goel, commodities consultant at CRU Group, via email.
“Vanadium demand in batteries is estimated to rise rapidly; this rise in demand will primarily come from China due to targeted government policies towards VRFBs," he told the Investing News Network (INN).
China, which is the leading producer of vanadium, is also expected to drive global demand in the year ahead.
“Rise in vanadium demand in the medium term (til 2029) is estimated to be heavily concentrated in China, because we estimate VRFB demand to pick up faster in China compared to other regions,” he said. “Similarly, Chinese rebar standards also changed — requiring higher-vanadium-intensity steel. Due to the rapid rise in domestic vanadium demand, China is likely to become a net importer of vanadium as the Chinese market goes into deficit from surplus.”
Vanadium demand faces rebar challenges, with limited boost from batteries
Even though Fastmarkets is calling for a 15 percent uptick in vanadium demand for rebar, this will only bring demand back up to previous levels. As Erik Sardain, principal analyst for Project Blue, explained, China’s weak construction market has caused a 15 percent year-on-year decline in domestic rebar construction.
Despite positivity in the VRFB space, Sardain doesn’t expect this to offset lower rebar demand.
“No, no, no, no, absolutely not. If you want to look worldwide, you can say that steel in general is something like 90 percent (of vanadium demand),” Sardain said in a December interview with INN.
The expert went on to point out that quantifying the amount of vanadium used in batteries and energy storage is challenging. He also questioned demand trend forecasts from the battery segment.
“I think the market got it wrong for one main reason, because the market is assuming that the vanadium redox battery for the storage system is going to be something worldwide,” he said.
“And at Project Blue, we don't think it's going to be global. We think it's going to be primarily China.”
He attributes this to the types of installations utilizing VRFB energy storage systems, telling INN that China is using the technology to power grids, while other countries are using it for small-scale applications.
Taking a more optimistic and long-term view, CRU’s Goel sees more viability in the battery and energy storage segments.
“VRFBs will have a considerable impact on the vanadium industry through the next two decades, but will play a minor role in the energy storage space — accounting for only 3.5 percent of total battery energy storage installations by 2035,” said Goel. “Although VRFBs will make up a small portion of total energy storage, they are significant consumers of vanadium and will consume the majority of global vanadium in 2035, compared to ~6 percent in 2024."
Supply picture blurred by geopolitics
As the Russia-Ukraine war continues and tensions between the US and China grow, many metals have faced volatility. These disruptions have impacted global markets, spurring policymakers to fast track new supply chains.
China’s restrictions on gallium and germanium exports in August 2023 escalated to a complete ban on shipments to the US in December 2024, intensifying global supply concerns.
Potential export caps and tariffs threaten to disrupt already fragile supply chains; however, Goel told INN that he doesn’t foresee these issues impacting the vanadium market.
“Similar trade restrictions are unlikely in vanadium, as most of the recent rise in vanadium demand is coming from China, which means China is likely to become a net importer if no new capacity is opened,” he said.
“This also means that should China become import reliant for a meaningful share of vanadium, which is to be used in two significant national industries (steel and energy storage), vanadium will move up in criticality matrices for China — moving nearer to materials like iron ore, potash and high-purity quartz.”
As demand in China picks up, Sardain anticipates the Asian nation will ramp up production. “With the current geopolitical environment, there is absolutely no way that China is going to rely on imports of vanadium,” he noted.
According to Goel, China isn’t the only country that is looking to be less reliant on imports. “Governments worldwide have recognized vanadium as a critical mineral, leading to increased support for emerging vanadium projects,” he said.
He referenced Australian company Vecco Group, which received an AU$3.8 million grant to advance the feasibility and design of a high-purity vanadium project in Brisbane.
“However, such grants are not enough to bring a project from conception to production. The current low vanadium pricing environment is a barrier to increasing ex-China capacity,” he added.
Australia to dominate growing vanadium supply capacity
While China will dominate the vanadium narrative in 2025, Australia is positioning to become a production hub.
In addition to getting its AU$3.8 million grant, Vecco’s project was granted coordinated project status by the Queensland government this past July. The status designation streamlines approvals for major developments with significant impacts, centralizing assessments and enabling public consultation.
In late December, explorer and developer QEM (ASX:QEM) also received coordinated project status from Queensland for its Julia Creek vanadium and energy project. According to a July release, a scoping study completed for Julia Creek affirms the company’s aim to produce approximately 10,571 metric tons of 99.95 percent pure vanadium pentoxide and 313 million liters of transport fuel annually over a 30 year mine life.
In mid-January, Australian Vanadium (ASX:AVL,OTC Pink:ATVVF) was granted environmental approval for its Gabanintha vanadium project in Western Australia. The approval covers a mine, concentrator, processing plant and supporting infrastructure, including a bore field and camp. The company is updating its optimized feasibility study to integrate Gabanintha into its Australian Vanadium project, one of the largest and highest-grade vanadium deposits.
How will the vanadium price perform in 2025?
Underscoring the weakness in the vanadium market, Sardain recounted factors impeding price growth.
He explained that despite several elements that should have boosted demand, the market remains surprisingly weak. Chinese monetary stimulus measures and stricter rebar standard enforcement failed to drive prices higher.
Russian vanadium pentoxide exports to China have dried up, and supply uncertainties persist in South Africa.
These conditions, which typically would have supported price increases for the battery metal, have instead had little impact, highlighting the subdued demand, especially in China.
“To be really honest, I was expecting the market to pick up in the second half of 2024,” he said.
“I was expecting this to happen, because I was looking at the interest rate in Europe, the (European Central Bank) cutting interest rates. I was expecting some kind of recovery for the European economy. I was expecting the Chinese government to be more proactive. I was expecting the property market in China to stabilize. So I was expecting some kind of rebound in the second half, which didn't take place," Sardain explained to INN.
Although the market didn’t perform to expectations in 2024, he sees promise in the months ahead.
“I think that the market is currently bottoming out. I believe that we are very close to the stabilization of the property market in China. Whether it's going to happen in Q1 or Q2 I don't know, but maybe (there will be) some kind of very, very, very mild recovery in the second half (of the year),” he said.
Highlighting the market’s positive fundamentals, CRU’s Goel said he sees a price rebound in 2025.
“We are estimating a global supply deficit in 2025 due to change in rebar standards and rise in vanadium battery demand, causing vanadium prices to rise,” said Goel. “As more supply comes online in 2026 and 2027, by 2027 vanadium prices will come down when compared to 2025 prices, but crucially remain higher than the pricing in the last 12 months.”
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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