Australian Vanadium (AVL) has signed an agreement with two Chinese firms that could lead to the antipodean mining firm developing a vanadium materials supply chain.
The non-binding letter of intent (LoI) with Hebei Yanshan Vanadium and Titanium Industry Technology Research (a subsidiary of HBIS Group Chengsteel Chengsteel— the world’s third largest vanadium producer), was announced by AVL on 15 January.
The LoI includes the potential for a binding purchase and sale agreement of AVL’s vanadium products, project funding, and help building its processing facility.
AVL’s stakeholder engagement manager, Sam McGahan, told BEST: “The letter of intent outlines discussions for assistance with the design of the vanadium processing plant, project funding and purchase of vanadium products, which could include vanadium pentoxide first electrolyte for vanadium redox flow batteries.”
AVL’s managing director and COO is set to visit HBIS this month, with a visit to Western Australia by HBIS Vanadium executive management being planned.
Last October, Vsun Energy, the wholly owned subsidiary of Australian Vanadium, announced it was to install a vanadium redox flow battery (VRFB) energy storage system at a dairy farm in Victoria, Australia.
