Vision Blue Resources (VBR), a company led and founded by former Xstrata CEO Sir Mick Davis announced that it has entered into a subscription agreement for up to US$12.6M in the capital of Ferro-Alloy Resources (FAR). Sir Mick Davis will join the Company’s board as Chairman following completion of an initial investment of up to US$3.1M.
Roskill View
Kazakhstan’s FAR is currently developing in tandem, its current vanadium concentrate processing operations and its large greenfield Balasausqandiq (Balausa) deposit. Vanadium pentoxide (V2O5) production at existing operations, although increasing 56% y-o-y, remained small in 2020 at 237t.
Ferro-Alloy Resources Limited (LON:FAR) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan. The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process.