SUPPLY of vanadium to China had grown from 3% to 18% of total production, said Fortune Mojapelo, CEO of Bushveld Minerals who added that the structural drivers behind vanadium demand growth “could not be stronger”.
“With the disruption happening to the utility model, energy storage is here,” said Mojapelo during the company’s second quarter conference call to analysts. Vanadium is used in steelmaking, but new demand has grown through its use in vanadium batteries which have improved storage capability over traditional batteries.
“The opportunity [for vanadium in batteries] is not in the future. It is here today. I could not be more excited.”
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.
