SIGNIFICANT HIGH PURITY ALUMINA (HPA) RESOURCE ADDS TO VECCO’S ARIZONA (QLD) PROJECT ECONOMICS
Vecco Group’s Arizona Project located in Queensland has confirmed a large high purity alumina (HPA) resource adding to the already defined JORC vanadium resource of 618Mt at 0.45% V2O5.
The ore is beneficiated and leached to recover significant quantities of vanadium and alumina into solution before recovery of the vanadium and finally the HPA using a separate ‘bolt on’ process.
Whilst the project has strong economics as a pure vanadium project, the addition of HPA further increases the NPV and IRR whilst derisking the project across two growing battery metals markets.
The battery revolution is creating new and growing markets with vanadium and HPA joining the more widely known lithium and cobalt as key ingredients. CRU’s latest market report shows the global HPA market growing at 17% p.a.