$500+ million of capital to build a new V project https://cciwa.com/wa-works/mining/australian-vanadium-project-to-deliver-mine-and-processing-plant/
Australian Vanadium Project to deliver mine and processing plant
Excerpt
Vanadium batteries are emerging as an important piece of the renewable energy transition puzzle and Australian Vanadium Limited’s (AVL) project in WA’s Mid West is well placed to meet growing demand.
The Australian Vanadium Project began development in 2015 and is aiming to commence construction next year, with production targeted for late 2025/early 2026, pending financing and approvals.
The project is profiled on WA Investments to raise $500+ million of capital to build the project, including plant and infrastructure. It involves an open-pit mine near Meekatharra and a processing plant near Geraldton.
Vanadium is primarily used for making metal alloys for high-strength steel production for space vehicles, military aircraft, nuclear reactors etc. It is also critical for vanadium flow batteries (VFBs) for renewable energy storage. AVL is planning to target markets for both applications.