Business
Vanadium Slag Offtake Agreement Signed
Vanadium Slag Offtake Agreement Signed.
About this update from Ironveld Plc
[{"type":"text","content":"\n \nRNS Number : 3550A Ironveld PLC 07 June 2016 \n\n7 June 2016 \n \nIRONVELD PLC\n(\"Ironveld\" or the \"Company\")\n \nVanadium Slag Offtake Agreement Signed \n \n \nIronveld plc, the owner of a High Purity Iron (\"HPI\"), Vanadium and Titanium project located on the Northern Limb of the Bushveld Complex in Limpopo Province, South Africa (the \"Project\") is pleased to announce the finalisation of an offtake agreement for all the Project's vanadium slag product with an established international company. \n \nThe company has entered into an agreement for a period of five years from first production for all the vanadium slag produced at attractive price terms. \n \nThe market for vanadium is both dynamic and diversified with the majority of current consumption going to steel application. The growth market for vanadium is its use in batteries with the advancement of vanadium redox batteries (\"VRBs\") as a potential solution for grid energy storage associated with renewable energy. \n \nThe Company is also in advanced discussions with an offtake partner for the HPI powder, which, on finalisation, will complete the Company's objective of securing agreements across the Project's three products.\n \n \nPeter Cox, CEO said:\n \n\"The finalisation of the vanadium offtake with an international company is again a huge endorsement of the Project and vanadium product's quality and a sign of the ever growing global demand for vanadium. Vanadium is a highly important product for enhancing steel properties and the advancement of its use in VRBs has the potential to materially impact demand and value for commercial grade vanadium of the kind our project will produce.\n \nThe focus for the Company now remains to execute agreements relating to high...