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Technology Metals Australia Limited (ASX: TMT) is a mining developer and explorer currently advancing on the development of the flagship Gabanintha Vanadium Project in WA. This flagship project would make TMT the largest single primary vanadium producer in the world.
Source: Company website
A shot in the arm for TMT -Lead Agency Projects & Assistance
On 20 February 2020, TMT announced the assessment of its high-grade, low-cost, large-scale, long-life Gabanintha Vanadium Project (Popularly called as “GVP”) by the lead agency under the Department of Mines, Industry Regulation and Safety’s (DMIRS) Lead Agency Framework.
The recognition from the lead agency is a significant landmark for the World-class Gabanintha project and will provide the impetus for the advancement of the Vanadium project approvals. The milestone would boost the confidence of TMT in the project.
Source: Government of Western Australia
Western Australian government has been providing support for the critical minerals projects under its "Future Battery Industry Strategy". The Gabanintha Vanadium Project fell in line with the WA government battery industry strategy and is anticipated to create new avenues for the Gabanintha Vanadium Project.
Under the Lead Agency framework, a “Principal Policy Officer” has been assigned to provide advisory services on key approvals and in facilitating the project approvals across various departments of the government bodies. All authorisations and approvals are expected to be managed by the State of Western Australia, accentuating the significance of gaining State Lead Agency support.
Social & Economic Impact of GVP in WA
GVP on development would be able to generate social and economic opportunities in the Mid-West region of Western Australia, the state and the country over the economic life of the operations.
The development of the Gabanintha & critical minerals project would lead to:
- A significant role in setting up efficient operations of the renewable energy projects in region & the nation
- Construction of a gas pipeline in to the Mid-West region, to further generate third party benefits
- Ongoing engagement with NAIF in regard to funding support for infrastructure in Northern Australia
GVP Development Progress
Gabanintha is a Vanadium Project located, 40km south of Meekatharra in the Western Australia. Vanadium is increasingly being used in the vanadium redox flow batteries (“VRFB’s”) and TMT aims to tap the trending energy storage (battery) sector.
The metallurgical test work indicated that the orebody could be processed using conventional salt roast techniques to produce a high quality >99% purity V2O5 product. The High-quality nature of the product makes it suitable for application in batteries apart from its traditional application in alloys and steel industries.
All You Need To Know About Vanadium Redox Flow Batteries (VRFBs): Read Here
The project completed the definitive feasibility study and is currently in discussions for offtake agreements.
The project highlights include:
- Long life of 16+ years
- Large scale with an average V2O5 production rate of 27.9 Mn lbs
- Low Opex of US$4.04/lb V2O5
- Huge Reserves & Resources of almost ~1.44 Million Tonnes V2O5 contained in R&R
- Start-Up of 2022
Emerging battery technologies in the era of electric mobility: Must Read
Technology Metals recently raised over $2 Million through equity issuance of 18,939,545 ordinary shares to fund the further progress of the Gabanintha Vanadium Project and for general working capital.
To Sum-up
Technology Metals (TMT) is well placed to work in synergy with the Lead Agency team, NAIF and other key government and non-government agencies and stakeholders to advance on the development of the GVP and simultaneously leading to collective value generation opportunities.
