Neometals {ASX: NMT}

Has entered a collaboration agreement with Scandinavian based Critical Metals Ltd., to jointly evaluate the feasibility of constructing a recycling facility to recover and process high- grade vanadium products in Scandinavia.

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Neometals Ltd (ASX: NMT) has executed a collaboration agreement with Scandinavian mineral development company Critical Metals Ltd.,  to jointly evaluate the feasibility of constructing a recycling facility to recover and process high- grade vanadium products from vanadium-bearing steel by-product in Scandinavia.

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Managing Director, Chris Reed, stated “Neometals will fund and manage the evaluation activities, up to consideration of an investment decision, which, if positive, will lead to a 50:50 incorporated joint venture”. 

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Critical has agreed a conditional Slag Supply Agreement with subsidiaries of SSAB, a steel producer that operates steel mills in Scandinavia.

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Neometals has extensive experience in the metallurgical processing of vanadium bearing concentrates from its Barrambie Titanium-Vanadium project and has, through a  subsidiary, Avanti Materials Ltd, developed a proprietary hydrometallurgical (leaching) flowsheet.

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