Iron-Titanium Co-Product Sales Opportunities to Differentiate AVL

Feasibility study innovations identify multiple high-value pathways for iron co-product

• Bankable Feasibility Study to be based on a vanadium processing plant location east of Geraldton in WA.
• Location offers a unique opportunity to:
  o Access cheaper natural gas for processing and limiting the need for new high-risk, high-cost gas pipeline infrastructure;
  o Create capability to produce and sell iron co-products;
  o Enable other downstream processing opportunities.
• An investigation into calcine sale opportunities has identified multiple potential revenue streams to support AVL’s objective of achieving the world’s lowest-cost vanadium production.
• Funded by a CRC-P research grant, AVL is pursuing further value addition to the iron co-product by:
  o Pelletising;
  o Upgrading iron-titanium by-products by further removal of gangue and other techniques;
  o Developing a processing solution for separating titanium from the calcine.
• Based on the PFS, the Project is forecast to produce 922,500 tonnes (dry basis) per annum of 54-55% Fe iron co-product over a 17 year mine life.
• Vanadium and titanium are both recognised as critical metals by Australia and its major trading partners.