Posted on 25 Apr 2022
Australian Vanadium has signed its third letter of intent (LOI) with Rizhao Steel to offtake iron titanium co-product from its namesake vanadium project.
Rizhao Steel Holding Group Co., Ltd., the world’s 26th and China’s 15th largest steelmaker, would use the iron titanium co-product for its blast furnace application. Its annual capacity is around 15 million tons of steel.
The Australian company targeted to produce 900,000 tons of iron titanium co-product from its project every year and 11,200 tons of vanadium pentoxide every year.
This third LOI was announced soon after the first two agreements, which validated the company’s strategic processing facility located close to major infrastructure like the Geraldton Port.
Source:Yieh
