NiPlats Australia has announced a quadrupling of its mineral resource at the Speewah vanadium deposit to a total of 3.2 billion tonnes at 0.30% V2O5, 2% Ti and 14.8% Fe.
This quadruples the vanadium resource and confirms Speewah as Australia's largest vanadium deposit.
Showing posts with label vanadium. Show all posts
Showing posts with label vanadium. Show all posts
Saturday, March 6, 2010
Saturday, November 7, 2009
Evraz Buys 90% Stake In Vanadium-Tula
Interfax reportsthat the Russian Federal Antimonopoly Service has allowed the Evraz Group's Nizhny Tagil Iron & Steel Works to acquire 90.84% in OJSC Vanadium-Tula setting a number of requirements.
The Ukraine Antimonopoly Committee in June this year allowed the Cyprus based Evraz Group member Mastercroft Limited to acquire over 50% in Vanadium-Tula.
Mr Alexei Agureyev vice president for PR of Evraz said "The deal has not yet been done. LLC Sibmetinvest and NTMK filed the request with the FAS to acquire 90.84% of Vanadium-Tula in September 2009. The FAS granted the request on November 2nd. The law allocates one year from the date permission has been received to complete the transaction."
He said the regulator's approval was needed because Vanadium-Tula was one of the biggest ferrovanadium and Nitrovan vanadium producers.
Vanadium-Tula is one of world's leading producers of vanadium compounds. Siberian Mining and Metallurgical Company bought the plant from OJSC Koks a member of the Industrial metallurgical Holding, at the end of 2007. The plant used slag supplied by Evraz steel mills as feedstock.
Sources: Steel Guru, Interfax
The Ukraine Antimonopoly Committee in June this year allowed the Cyprus based Evraz Group member Mastercroft Limited to acquire over 50% in Vanadium-Tula.
Mr Alexei Agureyev vice president for PR of Evraz said "The deal has not yet been done. LLC Sibmetinvest and NTMK filed the request with the FAS to acquire 90.84% of Vanadium-Tula in September 2009. The FAS granted the request on November 2nd. The law allocates one year from the date permission has been received to complete the transaction."
He said the regulator's approval was needed because Vanadium-Tula was one of the biggest ferrovanadium and Nitrovan vanadium producers.
Vanadium-Tula is one of world's leading producers of vanadium compounds. Siberian Mining and Metallurgical Company bought the plant from OJSC Koks a member of the Industrial metallurgical Holding, at the end of 2007. The plant used slag supplied by Evraz steel mills as feedstock.
Sources: Steel Guru, Interfax
Friday, October 2, 2009
Baobab To Launch Mozambique Exploration Project
A new exploration programme will be undertaken by Baobab Resources PLC on the Tete iron-vanadium and titanium project in Mozambique to expand on the established resource of 47.7 million tonnes of magnetite.
The resource statement and a statement from global consultant Coffey Mining on potential for between 400 to 700 million tonnes of magnetite-ilmenite mineralisation injected some life in share trading in Baobab on the London AIM board.
Technical director Ben James told Mineweb that Baobab had been a relatively lifeless stock on AIM until details of progress on the project were detailed last month - a factor that has also seen an appreciation in the share price.
The project is immediately north of the provincial capital of Tete and takes in five known vanadiferous-titano-magnetite deposits in what is known as the Massamba Group where there was the assessment for a major system by the mining consultant.
James said that drilling over about 500 metres of an established strike length of 8 kilometres at Tete has shown magnetite resource grades of 25% iron and can be upgraded to 64% Fe and 0.7% vanadium pentoxide.
Conceptual studies show that with a growth of resources, Baobab may have a resource that could produce a ferrovanadium product grading up to 68-69% Fe and 0.8% vanadium pentoxide, as well as a ferro titanium product.
The exploration progress detailed last month has seen several companies knocking on Baobab's door, including Chinese groups, but James said the company wants to undertake more work to prove scope for a major deposit - the first magnetite-iron mining project in Mozambique - before getting into serious discussions.
Baobab has a strategic partnership with International Finance Corporation which has taken a 15% direct stake in Tete.
In logistical terms, the company is well placed. The licences adjoin the substantial coal deposits being developed at Moatize and Benga by Vale and Riversdale. There is also a railway at the regional capital of Tete linking to the port of Beira, while hydro-power is available from the Cahora Bassa dam.
There is a strong Australasian influence in Baobab as Ben James is a product of what was New Zealand's Otago School of Mines, managing director Brett Townsend is a Western Australian, and so is the company's founding director and now marketing consultant Jon Crowe, a familiar face in southern Africa.
Source: Mineweb
The resource statement and a statement from global consultant Coffey Mining on potential for between 400 to 700 million tonnes of magnetite-ilmenite mineralisation injected some life in share trading in Baobab on the London AIM board.
Technical director Ben James told Mineweb that Baobab had been a relatively lifeless stock on AIM until details of progress on the project were detailed last month - a factor that has also seen an appreciation in the share price.
The project is immediately north of the provincial capital of Tete and takes in five known vanadiferous-titano-magnetite deposits in what is known as the Massamba Group where there was the assessment for a major system by the mining consultant.
James said that drilling over about 500 metres of an established strike length of 8 kilometres at Tete has shown magnetite resource grades of 25% iron and can be upgraded to 64% Fe and 0.7% vanadium pentoxide.
Conceptual studies show that with a growth of resources, Baobab may have a resource that could produce a ferrovanadium product grading up to 68-69% Fe and 0.8% vanadium pentoxide, as well as a ferro titanium product.
The exploration progress detailed last month has seen several companies knocking on Baobab's door, including Chinese groups, but James said the company wants to undertake more work to prove scope for a major deposit - the first magnetite-iron mining project in Mozambique - before getting into serious discussions.
Baobab has a strategic partnership with International Finance Corporation which has taken a 15% direct stake in Tete.
In logistical terms, the company is well placed. The licences adjoin the substantial coal deposits being developed at Moatize and Benga by Vale and Riversdale. There is also a railway at the regional capital of Tete linking to the port of Beira, while hydro-power is available from the Cahora Bassa dam.
There is a strong Australasian influence in Baobab as Ben James is a product of what was New Zealand's Otago School of Mines, managing director Brett Townsend is a Western Australian, and so is the company's founding director and now marketing consultant Jon Crowe, a familiar face in southern Africa.
Source: Mineweb
Thursday, August 27, 2009
Highveld Sees Improved Steel Demand
South African steel producer Highveld Steel & Vanadium on Wednesday said that it could increase its operational levels systematically to full production during the later part of the year, if higher demand levels continued.
The producer, led by CEO Walter Ballandino, said that there were some signs of improved demand, particularly for steel, and that the company would have to position itself to ensure that the increased demand could be met in a profitable manner.
It expected the upswing in demand to be gradual.
In the six months ended June 30, 2009, the company’s headline earnings fell by nearly 89% to R145-million, compared with headline earnings of R1,29-billion recorded the year before.
Revenues declined by 51% and headline earnings a share from continuing operations by 86%.
Highveld’s gross steel output declined by 35% year-on-year in the six months, while total sales volumes were down 25% year-on-year in the six months.
However, sales of casted products in the six months had increased to 117 743 t, the majority of which was exported, compared with 2 084 t sold in the first half of 2008, of which none had been exported.
Overall, export sales had increased “dramatically”, accounting for 53% of total steel sales in the first half of the year, compared with 9% the year before, as a result of weak domestic demand and extensive destocking by local merchants, said the steelmaker.
Meanwhile, the company noted that its vanadium slag production had declined in line with its steel production.
Vanadium prices had, however, recovered somewhat during the past few months, with the average ferrovanadium price for June improving to $22,56/kg, compared with $18,96/kg the year before.
Meanwhile, the producer said that depressed markets and significant variations in exchange rates remained dominant business risks, while the supply of services to the eMalahleni municipality, in Witbank, also remained a business risk that required continuous monitoring.
Source: Mining Weekly
The producer, led by CEO Walter Ballandino, said that there were some signs of improved demand, particularly for steel, and that the company would have to position itself to ensure that the increased demand could be met in a profitable manner.
It expected the upswing in demand to be gradual.
In the six months ended June 30, 2009, the company’s headline earnings fell by nearly 89% to R145-million, compared with headline earnings of R1,29-billion recorded the year before.
Revenues declined by 51% and headline earnings a share from continuing operations by 86%.
Highveld’s gross steel output declined by 35% year-on-year in the six months, while total sales volumes were down 25% year-on-year in the six months.
However, sales of casted products in the six months had increased to 117 743 t, the majority of which was exported, compared with 2 084 t sold in the first half of 2008, of which none had been exported.
Overall, export sales had increased “dramatically”, accounting for 53% of total steel sales in the first half of the year, compared with 9% the year before, as a result of weak domestic demand and extensive destocking by local merchants, said the steelmaker.
Meanwhile, the company noted that its vanadium slag production had declined in line with its steel production.
Vanadium prices had, however, recovered somewhat during the past few months, with the average ferrovanadium price for June improving to $22,56/kg, compared with $18,96/kg the year before.
Meanwhile, the producer said that depressed markets and significant variations in exchange rates remained dominant business risks, while the supply of services to the eMalahleni municipality, in Witbank, also remained a business risk that required continuous monitoring.
Source: Mining Weekly
Thursday, March 19, 2009
Niplats Sitting On Australia's Largest Vanadium Deposit
Niplats Australia has received final vanadium assay results from the Central, Buckman and Red Hill Prospects at Speewah which provide further support that the Speewah Dome will host Australia’s largest vanadium deposit.
The Company reported on 5 February 2009 its maiden vanadium resource for the Central deposit consisting of a total Indicated and Inferred Mineral Resource for the combined low and high grade zones of 851 million tonnes at 0.32% V2O5 (at 0.23% V2O5 lower cut-off grade), with 334 million tonnes at 0.32% V2O5 in the Indicated category.
The combined total Indicated and Inferred Mineral Resource of 279 million tonnes at 0.39% V2O5 (at 0.365% V2O5 lower cut-off grade), with the Indicated portion is 107 million tonnes at 0.40% V2O5.
Reconnaissance drilling at the Red Hill and Buckman Prospects has confirmed they are very large exploration targets. Drilling has indicated mineralisation over a 2.5km by 10.5km area at Buckman and a 2.5km by 6.5km area at the Red Hill Prospect.
The Buckman exploration target is 1 to 2 Billion tonnes at 0.3-0.35% V2O5, and the Red Hill exploration target is 400 to 600 million tonnes at 0.3-0.35% V2O5. This represents an increase in the size of the exploration targets of greater than 300% from those announced to the ASX on 5 February 2009. NiPlats is encouraged by the potential large size and quality of the vanadium deposits at Speewah as it is important in attracting a strategic partner and end user to assist in any future development.
In addition to the Buckman and Red Hill exploration targets, the Speewah Dome has three more areas that have yet to be drill tested, referred to as Junction, Sunset Flats and Magnetite Valley.
Drill samples have been submitted to SKM for metallurgical testwork, to determine mass recoveries and the V2O5 concentration (the “tenor”) within the magnetite. Preliminary results have returned acceptable mass recoveries and very high tenor consistent with previous Davis Tube testwork. Further information will be released as this work continues.
The company advises that work over the next 12 months will focus on scoping and pre-feasibility studies on the high grade Indicated Mineral Resource of 107 million tonnes at 0.40% V2O5, as preliminary investigations suggests a potential mine life of 20 to 30 years based on producing approximately 6,000 tonnes of ferro-vanadium end product per year.
The assay results from Red Hill and Buckman confirm the significance of the size of the vanadium deposit at Speewah Dome and that it represents a strategic deposit that may support a 100+ year mine life. The third party metallurgical testwork completed by SKM will assist in confirming the quality of the deposit.
The favourable setting of the resource (outcropping and near surface, gentle slope) and the characteristic of mostly fresh rock from surface, combined with the very high vanadium tenor, significantly enhance the opportunity for a commercially viable vanadium project.
Source: Proactive Investors Australia
The Company reported on 5 February 2009 its maiden vanadium resource for the Central deposit consisting of a total Indicated and Inferred Mineral Resource for the combined low and high grade zones of 851 million tonnes at 0.32% V2O5 (at 0.23% V2O5 lower cut-off grade), with 334 million tonnes at 0.32% V2O5 in the Indicated category.
The combined total Indicated and Inferred Mineral Resource of 279 million tonnes at 0.39% V2O5 (at 0.365% V2O5 lower cut-off grade), with the Indicated portion is 107 million tonnes at 0.40% V2O5.
Reconnaissance drilling at the Red Hill and Buckman Prospects has confirmed they are very large exploration targets. Drilling has indicated mineralisation over a 2.5km by 10.5km area at Buckman and a 2.5km by 6.5km area at the Red Hill Prospect.
The Buckman exploration target is 1 to 2 Billion tonnes at 0.3-0.35% V2O5, and the Red Hill exploration target is 400 to 600 million tonnes at 0.3-0.35% V2O5. This represents an increase in the size of the exploration targets of greater than 300% from those announced to the ASX on 5 February 2009. NiPlats is encouraged by the potential large size and quality of the vanadium deposits at Speewah as it is important in attracting a strategic partner and end user to assist in any future development.
In addition to the Buckman and Red Hill exploration targets, the Speewah Dome has three more areas that have yet to be drill tested, referred to as Junction, Sunset Flats and Magnetite Valley.
Drill samples have been submitted to SKM for metallurgical testwork, to determine mass recoveries and the V2O5 concentration (the “tenor”) within the magnetite. Preliminary results have returned acceptable mass recoveries and very high tenor consistent with previous Davis Tube testwork. Further information will be released as this work continues.
The company advises that work over the next 12 months will focus on scoping and pre-feasibility studies on the high grade Indicated Mineral Resource of 107 million tonnes at 0.40% V2O5, as preliminary investigations suggests a potential mine life of 20 to 30 years based on producing approximately 6,000 tonnes of ferro-vanadium end product per year.
The assay results from Red Hill and Buckman confirm the significance of the size of the vanadium deposit at Speewah Dome and that it represents a strategic deposit that may support a 100+ year mine life. The third party metallurgical testwork completed by SKM will assist in confirming the quality of the deposit.
The favourable setting of the resource (outcropping and near surface, gentle slope) and the characteristic of mostly fresh rock from surface, combined with the very high vanadium tenor, significantly enhance the opportunity for a commercially viable vanadium project.
Source: Proactive Investors Australia
Wednesday, March 18, 2009
Freewest Drills Into Good Grade Vanadium
Freewest Resources of Montreal has drilled an occurrence of near-surface vanadium oxide mineralization at its Dalhousie Mountain property 60 km southeast of Matagami. Core assayed 0.58% V2O5 over 30.53 metres, 0.67% V2O5 over 12.94 metres and 0.64% V2O5 over 24.00 metres.
Previous work done on the property by Freewest identified an area of vanadium mineralization approximately 1.8 km by 0.3 km with intermittent outcrops. The best assay so far was 1.27% V2O5 from a blasted sample of an outcrop. The company reports that grid work exposed iron oxide mineralization containing vanadium as well as associated chalcopyrite and pyrrhotite hosted within gabbroic and pyroxenitic rocks. Bulldozer stripping and a ground magnetic survey have been completed.
Vanadium is a strategic metal used mainly in the production of high-quality metal alloys. Added to steel, ferrovanadium produces high-strength steel suitable for natural gas pipelines, surgical instruments, jet engines and construction. About 90% of the vanadium mined is used in alloys. The remaining 10% is used as an additive and catalyst in the chemical industry or used as in alloys of titanium in the aerospace industry. Almost all of the world's vanadium production comes from South Africa, China and Russia.
Source: Canadian Mining News
Previous work done on the property by Freewest identified an area of vanadium mineralization approximately 1.8 km by 0.3 km with intermittent outcrops. The best assay so far was 1.27% V2O5 from a blasted sample of an outcrop. The company reports that grid work exposed iron oxide mineralization containing vanadium as well as associated chalcopyrite and pyrrhotite hosted within gabbroic and pyroxenitic rocks. Bulldozer stripping and a ground magnetic survey have been completed.
Vanadium is a strategic metal used mainly in the production of high-quality metal alloys. Added to steel, ferrovanadium produces high-strength steel suitable for natural gas pipelines, surgical instruments, jet engines and construction. About 90% of the vanadium mined is used in alloys. The remaining 10% is used as an additive and catalyst in the chemical industry or used as in alloys of titanium in the aerospace industry. Almost all of the world's vanadium production comes from South Africa, China and Russia.
Source: Canadian Mining News
Monday, March 16, 2009
Record Profits For Highveld
Despite the global downturn resulting in a dramatic decrease in commodity prices and production cuts, South Africa's Highveld Steel and Vanadium achieved its best results in the year ended December, more than doubling headline earnings to 2210c per share.
Profits rose 33% to R2,5bn on turnover of R8bn — 49% ahead of the previous year’s.
However, the depressed global economic situation meant that Highveld had to implement a restructuring process, cutting back on outsourced services and restructuring its capital expenditure programme.
The group will now focus aggressively on entering new markets to cushion effects of a sharp decrease in orders.
And despite the record results and cash on hand of R1,6bn at year-end, Highveld will not pay a final dividend, considering it more prudent to keep cash to help weather the global storm.
Highveld has identified the financial soundness of its customers, fluctuations in commodity prices, and the availability of electricity and rail transportation as high risks on which it needs to focus in the year ahead.
On a segmental basis, steel production fell 10,5% while sales volumes were down 8,5% in the year, which was blamed on the lack of electricity in the first half, and the sudden downturn in the market from the fourth quarter, necessitating output cuts.
Vanadium prices fluctuated wildly — between $90/kg and $26/kg for ferrovanadium at the end of the year.
Highveld has also had to sell certain of its basic products in the international market at distressed prices to maintain a reduced but economic level of output.
Source: Business Day
Profits rose 33% to R2,5bn on turnover of R8bn — 49% ahead of the previous year’s.
However, the depressed global economic situation meant that Highveld had to implement a restructuring process, cutting back on outsourced services and restructuring its capital expenditure programme.
The group will now focus aggressively on entering new markets to cushion effects of a sharp decrease in orders.
And despite the record results and cash on hand of R1,6bn at year-end, Highveld will not pay a final dividend, considering it more prudent to keep cash to help weather the global storm.
Highveld has identified the financial soundness of its customers, fluctuations in commodity prices, and the availability of electricity and rail transportation as high risks on which it needs to focus in the year ahead.
On a segmental basis, steel production fell 10,5% while sales volumes were down 8,5% in the year, which was blamed on the lack of electricity in the first half, and the sudden downturn in the market from the fourth quarter, necessitating output cuts.
Vanadium prices fluctuated wildly — between $90/kg and $26/kg for ferrovanadium at the end of the year.
Highveld has also had to sell certain of its basic products in the international market at distressed prices to maintain a reduced but economic level of output.
Source: Business Day
Wednesday, February 18, 2009
Receivers Called In At Windimurra Vanadium Mine
Hundreds of jobs at the Windimurra vanadium mine development in the mid-west of Western Australia A's are to go after the appointment of administrators and receivers.
The mine was set to start producing ferrovanadium this year but announced at the end of last year that it needed an extra A$81 million for construction labour and fixed costs.
``There's over 400 contractors on site, they're being wound down and demobilised from the site because construction needs to be put on hold while this assessment occurs,'' administrator Darren Weaver of Ferrier Hodgson said today.
``Ultimately the decision is in the hands of the receivers.''
Korda Mentha receiver Brian McMaster said the mine would be placed on effective care and maintenance while contractors were redeployed.
The future of the company's 50 workers was still uncertain.
"We're just working through with them at the moment what the best course of action is and we've sort of agreed that ... we'll have a result by next week,'' Mr McMaster said. ``Sixty contractors left yesterday, we're thinking about 130 will come off today and then after that we're down to a core of people who are more or less required to keep everything on care and maintenance. We'll work through over the next couple of days whether any more of those need to come out or not.''
The company announced in its December quarter activities report that it had $71 million in cash at the end of 2008 but was taking steps to conserve cash.
However, its financial report for the same quarter stated cash reserves at quarter's end totalled $114 million.
Mr Weaver said all options are still open and the mine may still be viable.
``We're working pretty closely with the receivers to make sure that we can preserve all the recapitalisation options as one of the potential outcomes,'' Mr Weaver said.
``Given that the project is 90 per cent complete ... and given there is a defined amount of monies that need to be reinvested in order to complete it ... there is an ability where a (recapitalisation) might work in this situation.
``The secured creditors are going to be very focused on their returns ... but there's also a lot of interest in the project.
``At this stage I think that all the options are open.''
Source: Perth Now
The mine was set to start producing ferrovanadium this year but announced at the end of last year that it needed an extra A$81 million for construction labour and fixed costs.
``There's over 400 contractors on site, they're being wound down and demobilised from the site because construction needs to be put on hold while this assessment occurs,'' administrator Darren Weaver of Ferrier Hodgson said today.
``Ultimately the decision is in the hands of the receivers.''
Korda Mentha receiver Brian McMaster said the mine would be placed on effective care and maintenance while contractors were redeployed.
The future of the company's 50 workers was still uncertain.
"We're just working through with them at the moment what the best course of action is and we've sort of agreed that ... we'll have a result by next week,'' Mr McMaster said. ``Sixty contractors left yesterday, we're thinking about 130 will come off today and then after that we're down to a core of people who are more or less required to keep everything on care and maintenance. We'll work through over the next couple of days whether any more of those need to come out or not.''
The company announced in its December quarter activities report that it had $71 million in cash at the end of 2008 but was taking steps to conserve cash.
However, its financial report for the same quarter stated cash reserves at quarter's end totalled $114 million.
Mr Weaver said all options are still open and the mine may still be viable.
``We're working pretty closely with the receivers to make sure that we can preserve all the recapitalisation options as one of the potential outcomes,'' Mr Weaver said.
``Given that the project is 90 per cent complete ... and given there is a defined amount of monies that need to be reinvested in order to complete it ... there is an ability where a (recapitalisation) might work in this situation.
``The secured creditors are going to be very focused on their returns ... but there's also a lot of interest in the project.
``At this stage I think that all the options are open.''
Source: Perth Now
Thursday, January 29, 2009
Gabanintha To Yield Australia's Highest Grade Vanadium
Yellow Rock Resources has announced the increase and upgrade in the mineral resource at the Gabanintha vanadium-iron-titanium project in Western Australia.
The completed resource statement report on the vanadium-iron-titanium deposit at the Gabanintha project defines it as the Australia’s highest grade massive magnetite hosted vanadium deposit.
The main points of the report are:
1. An increase in the total Mineral Resource to 151.5 million tonnes from 90 million tonnes to 100 meters depth
2. The total contained Vanadium metal has increased by 30%
3. The total high grade Resource is now 70 million tonnes at 0.87% V2O5
4. The identification of shallow scree resource of 12 million tonnes at 0.43% V2O5 and low grade hanging wall resource of 70 million tonnes at 0.39% V2O5
5. The Vanadium Mineral Resource is also rich in iron and titanium
This unique ore type stacking would allow the exploitation of a low grade feed to an onsite ferrovanadium plant similar to that at Windimurra as well as the direct shipping of a lump or fine Balla Balla style iron rich feedstock on the single site.
New drilling will confirm mineralization types and grades to the current depth of 100 meters and will also test the depth of the ore body to 300 meters to include both high grade magnetite ilmenite vanadium as well as the lower grade hanging wall resource.
Source: Proactive Investor
The completed resource statement report on the vanadium-iron-titanium deposit at the Gabanintha project defines it as the Australia’s highest grade massive magnetite hosted vanadium deposit.
The main points of the report are:
1. An increase in the total Mineral Resource to 151.5 million tonnes from 90 million tonnes to 100 meters depth
2. The total contained Vanadium metal has increased by 30%
3. The total high grade Resource is now 70 million tonnes at 0.87% V2O5
4. The identification of shallow scree resource of 12 million tonnes at 0.43% V2O5 and low grade hanging wall resource of 70 million tonnes at 0.39% V2O5
5. The Vanadium Mineral Resource is also rich in iron and titanium
This unique ore type stacking would allow the exploitation of a low grade feed to an onsite ferrovanadium plant similar to that at Windimurra as well as the direct shipping of a lump or fine Balla Balla style iron rich feedstock on the single site.
New drilling will confirm mineralization types and grades to the current depth of 100 meters and will also test the depth of the ore body to 300 meters to include both high grade magnetite ilmenite vanadium as well as the lower grade hanging wall resource.
Source: Proactive Investor
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