Neometals scoping study confirms viability of low cost vanadium from slag

   Neometals (ASX: NMT)

Project developer Neometals is pleased to announce the completion of a Scoping Study on the recovery of vanadium pentoxide (“V2O5”) from high‐grade vanadium‐bearing steel by‐product (“Slag”).

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SCOPING STUDY CONFIRMS POTENTIAL FOR LOW
COST VANADIUM RECOVERY PROJECT

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HIGHLIGHTS
 Scoping Study highlights a strong case for future development of a Scandinavian processing operation to recover vanadium chemicals from steel making by‐products under a conditional supply agreement
 Robust economic outcomes puts project in first quartile operating cost position
 Provisional patents pending for Neometals processing method that utilises conventional equipment at atmospheric pressure and mild temperatures
 Commenced Preliminary Feasibility Study metallurgical test work program and drilling for variability sample test work.

 

Project developer Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce the completion of a Scoping Study (“Study”) on the recovery of vanadium pentoxide (“V2O5”) from high‐grade vanadium‐bearing steel by‐product
(“Slag”).

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As announced on 6th April 2020 (see ASX announcement titled “High‐Grade Vanadium Recycling Agreement”), Neometals has the option, subject to funding certain evaluation studies, to enter into a 50:50 incorporated joint venture (“JV”) with unlisted
Scandinavian mineral development company, Critical Metals Ltd (“Critical”).

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The parties will jointly evaluate the feasibility of constructing a facility to process and recover high‐grade vanadium products from vanadium‐bearing steel making by‐product in Scandinavia (“Vanadium Recovery Project”).

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Critical has executed a conditional supply agreement with subsidiaries of SSAB
(“SSAB”), a steel producer that operates steel mills in Scandinavia, to acquire slag produced as a by‐product at SSAB’s operations.

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To read the full news release, please click HERE

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