First Letter of Intent for Iron Titanium Coproduct Offtake Sales

Guangxi Shenglong Metallurgy Co. Ltd confirms interest in AVL FeTi coproduct for blast furnace application

• AVL has signed a Letter of Intent (LOI) with Shenglong Metallurgy International Pte Limited for offtake of the iron titanium (FeTi) coproduct to be produced from the Australian Vanadium Project.
• Shenglong Metallurgy International is the Hong Kong based commercial arm of Guangxi Shenglong Metallurgy Co. Ltd.
• Guangxi Shenglong Metallurgy Co. Ltd is a 12 million tonne per annum (Mtpa) steel producer located in southern China’s Fangchenggang port.
• AVL plans to produce 900,000 tonnes per annum (tpa) of FeTi coproduct from the Australian Vanadium Project, in addition to 11,022 tpa of vanadium pentoxide from its proposed mine and processing facility in the Mid West region of Western Australia.
• Validation of AVL’s strategic location of a vanadium processing plant close to Geraldton Port.