Innovative Neometals gets vanadium capex cost

INNOVATIVE resource sector company Neometals has received news its venture to recover high purity vanadium from steel slag could involve a processing plant costing US$184 million and feature operating costs in the lowest quartile.
Innovative Neometals gets vanadium capex cost Innovative Neometals gets vanadium capex cost Innovative Neometals gets vanadium capex cost Innovative Neometals gets vanadium capex cost Innovative Neometals gets vanadium capex cost

Neometals has plenty on its table

The estimates were made by engineering consultants Hatch as part of a prefeasibility study.

Other PFS results are due this quarter.

A pilot plant and full feasibility study are next on the agenda for Neometals and 50:50 partner Critical Metals.

The feasibility study is scheduled for completing in June 2022.

The two parties aim to annually recover 13.4 million pounds of vanadium from vanadium-bearing steel making by-product generated by SSAB EMEA AB and SSAB Europe Oy in Scandinavia.

A supply agreement recently signed provides for the conditional purchase of two million tonnes of slag from SSAB, with processing at a rate of 200,000tpa.

Neometals has multiple potential ventures in train included lithium battery recycling, a lithium refinery, a titanium-vanadium project, and nickel exploration.

The company started 2021 with A$72.6 million cash.

Shares in Neometals were down 1% to 49.5c in early trade, capitalising the company at $270 million.