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MOU signed with steel and alloy product company

MOU signed with steel and alloy product company

Highlights:

  • A Memorandum of Understanding (MOU) has been signed with Win-Win Development Group, a Chinese steel and alloy product company.
  • The agreement initiates discussions surrounding project finance and offtake of vanadium oxides from Gabanintha.
  • Products to be used in production of vanadium carbon nitride (VCN) for use in area of micro-alloy rebar production.
  • Win-Win’s project timeline is strongly aligned with AVL’s planned development of Gabanintha.
  • Relationship initially built by AVL’s China consultancy Mastermines.
  • New Chinese rebar standard, due to be implemented in October 2018, requires additional use of vanadium with supplies inside China strongly constrained and VCN is the preferred alloy to meet the specification.
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Win-Win Management team with AVL at Win-Win Development Group Head Office in Chengdu