During the first six months of the year, vanadium pricing reacted strongly to the potential disruption of supply from Russia at the outset of the war, Willis Thomas of CRU Group told the Investing News Network.
“While the V2O5 price was showing strength entering 2022, reaching well above US$10 per pound was not expected in the first half of the year,” he said. “This level was clearly crossed, and prices have since eased off these recent highs as concerns were allayed over loss of supply.”
As the first quarter of the year unfolded, all eyes remained on the Russia-Ukraine war. Sanctions hit Roman Abramovic, the biggest shareholder of Evraz, which is a major vanadium producer with assets in Russia and Czechia. That led to the resignation of the entire board.
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.