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Highlights
- Vanadium Resources Limited (ASX: VR8 / FRA: TR3) has appointed Mr Alex Oehmen as General Manager Operations.
- Mr Oehmen holds substantial experience in operations, production and marketing of vanadium within the Bushveld region.
- The company believes that Mr Oehmen’s wealth of experience places VR8 in an ideal position to advance Steelpoortdrift through the upcoming stages of preparation for FID, construction, commissioning, production and marketing.
Vanadium Resources Limited (ASX: VR8 / FRA: TR3) is making serious strides to advance its world-class, tier 1, Steelpoortdrift vanadium project in Limpopo Province, South Africa.
In line with its objective, the company has made a key appointment to the team. The company has roped in highly experienced executive Mr Alex Oehmen as General Manager Operations.
Oehmen has a demonstrated track record in the management of vanadium and steel making operations within the Bushveld region, South Africa.
Who is Alex Oehmen?
Alex Oehmen joined VR8 as General Manager Operations on 20 February 2023. He has more than 40 years of industry experience across the resources, mineral processing and engineering sectors.
Oehmen was most recently associated with Bushveld Minerals Ltd as Operations Manager. He managed Bushveld’s Vanchem operations and General Manager Operations at Vanchem Vanadium Products (Pty) Ltd prior to its acquisition by Bushveld. It is to be noted that the operations were within the same geological and mineralogical terrain as the Steelpoortdrift Project in the Bushveld Complex of South Africa.
Over the years, he has served as General Manager Operations, General Manager Vanadium Products, Operations Manager, Assistant Manager Steel Making, Manager Continuous Casting, Production Engineer and other related roles within the vanadium, steel and alloys industrial sector.
Oehmen holds Bachelor of Engineering (Metallurgical) from Pretoria University and Master of Business Leadership from UNISA.
Steelpoortdrift vanadium project
Vanadium Resources Ltd considers Steelpoortdrift as one of the world’s largest and highest-grade vanadium deposits. The project is located in the Bushveld Complex.
A definitive feasibility study (DFS) on the project has indicated strong financial outcomes with post-tax NPV7.5% of US$1.2 billion (US$0.9 billion attributable or A$1.4Bn), internal rate of return (IRR) of 42% post tax, annual free cashflows of US$152 million, and payback period of 27 months. The study has estimated a start-up capex at US$211 million. Read the detailed DFS here.
Stock price performance
VR8 shares were trading at AU$0.073 in the early morning hours on 20 February 2023, up nearly 1.4%
