Subsidiary of HBIS Group Chengsteel Company in China and AVL initiate collaboration.
- AVL signs Letter of Intent with Hebei Yanshan Vanadium and Titanium Industry Technology Research Co Ltd, a subsidiary of HBIS Group Chengsteel
- Chengsteel is currently the world’s third largest vanadium producer
- Potential purchase of AVL’s vanadium products and Project investment opportunities
- Consideration of technical services for the Australian Vanadium Project
- Letter of Intent confirms interest from both parties to discuss a binding purchase and sale agreement
- Letter of Intent is non-binding and sets terms for discussion
- AVL Managing Director and COO to visit HBIS in January, a visit to Western Australia by HBIS Vanadium executive management being planned