With the recent industry focus on sustainability and electrification, critical minerals such as vanadium have increased in prominence.
Vanadium is currently used in high-strength, low-alloy steel and is emerging as a critical battery storage commodity for its use in vanadium redox flow batteries, ideally suited to large, grid-scale storage solutions.
In July last year, the Australian Government announced it is supporting the resources and critical minerals sector with almost $50 million in funding for projects to help grow businesses and create new jobs.
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.