Neometals: Completes ECS for vanadium processing plant

Neometals Completes ECS for vanadium processing plant

• Neometals (NMT) completes an engineering cost study (ECS) on the recovery of high-purity vanadium pentoxide from high-grade vanadium-bearing steel by-product
• This work is part of the development of the VRP1 project which will be located in Finland and will process and recover high-purity vanadium from vanadium-bearing slag
• The study outlines an operating cost estimate of US$4.38 (A$6.40) per pound of vanadium pentoxide, placing the project in the lowest quartile of the industry cost curve
• The company is now finalising a feasibility study which will include the findings from the ECS
• Company shares are up 4.06 per cent to trade at $1.03 at 1:38 pm AEST