The Australian Vanadium Project is one of the largest and highest-grade vanadium deposits being developed globally and the Company aims to be the largest Australian vanadium developer, with a world-class, long life asset of scale, located in the Tier-1 mining jurisdiction of Western Australia. In early 2024, a merger was completed with Technology Metals Australia Limited which consolidated the 18km orebody to enable a single integrated project with enhanced operational efficiencies. In May 2024, an updated Mineral Resource Estimate (MRE) was released, determining the combined global vanadium MRE as 395.4Mt at 0.77% V₂O₅, of which the high-grade domain is 173.2Mt at 1.09% V₂O₅, including 105.4Mt at 1.12% V₂O₅ classified as Measured or Indicated.
Located in the Murchison Province approximately 43km south of the mining town of Meekatharra in Western Australia, the Australian Vanadium Project is serviced by quality roads and infrastructure and enjoys easy access to the regional airport and proximity to the Port of Geraldton.
The Company is currently undertaking an Optimised Feasibility Study (OFS) focused on realising the potential economic benefits of the integrated project, which will be informed by preceding trade-off studies to determine the preferred project development pathway, mine scheduling and processing plant location. The aim of the OFS is to improve on previous economic and technical metrics.
Major projects with an expenditure of $500 million or more are subject to the Australian Jobs Act 2013. Information about AVL’s Australian Industry Participation Plan can be found here:
AVL Released an updated Mineral Resource Estimate on 7 May 2024
See ASX announcement Mineral Resource Update at The Australian Vanadium Project.
The total Mineral Resource is 395.4Mt at 0.77% vanadium pentoxide (V2O5) consisting of:
- Measured Mineral Resource of 30.6Mt at 1.13% V2O5,
- Indicated Mineral Resource of 136.6Mt at 0.85% V2O5, and
- Inferred Mineral Resource of 228.2Mt at 0.66% V2O5.
The Mineral Resource includes a distinct massive magnetite high-grade zone of 173.2Mt at 1.09% V2O5 consisting of:
- Measured Mineral Resource of 30.6Mt at 1.13% V2O5,
- Indicated Mineral Resource of 74.8Mt at 1.11% V2O5, and
- Inferred Mineral Resource of 67.9Mt at 1.06% V2O5.
