The agreement is between Protean's 50%-owned Korean subsidiary, Stonehenge, and the Korean Institute of Geoscience and Mineral Resources, which has been working on the problem for several years and which reportedly has a suite of technologies for optimising the hydrometallurgical processing of rare metals, including vanadium, uranium and rare earths. It also conducts significant minerals processing research experience.
Protean Executive chairman Bevan Tarratt described the agreement as a "watershed", as it could allow it to shave money and "dramatically speed up Protean's process of mining, processing and marketing" of vanadium to meet the demand for vanadium flow batteries among industrial users.
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