Option Agreement to Locate Vanadium Processing Plant near Geraldton

Opportunity to process vanadium near coastal city gives AVL access to reduced gas costs and iron ore by-product sales opportunities.

Key Points:

• AVL has signed an Option Agreement for land, to locate its processing plant near to the City of Geraldton in Western Australia
• Mining and concentrate beneficiation remain located at the Project site near Meekatharra, with significantly reduced water and power requirements at the mine site
• New location of processing plant will reduce remote site capex at Meekatharra minesite, including removing the need for a gas pipeline to site
• Magnetite concentrate to be transported to the processing plant site via road
• An initial Option Study has demonstrated the positive impacts on operating costs from using a site close to the Dampier-Bunbury gas pipeline infrastructure and associated significantly lower domestic WA gas prices
• Opportunity can significantly improve potential for AVL to be a world lowest cost-quartile vanadium producer
• Strong Federal, State and Local Government support for the relocation
• Increased Mid-West region employment opportunities
• Utilises existing gas, water, road and rail infrastructure
• Close to Mid-West industry services platform
• Benefits flow through to the communities of Mullewa and Geraldton