Former Xstrata boss Mick Davis’ newly founded battery metals investment firm Vision Blue Resources (VBR), St. Peter Port, Guernsey, is stepping up efforts to reach the goal of becoming a battery metals giant by launching a $300 million special-purpose acquisition company (SPAC), Mining.com reports.
Davis’ company also announced an $11.5 million investment in Ferro-Alloy Resources (LON: FAR), which is developing the Balasausqandiq vanadium project in Kazakhstan.
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.