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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