Pre-Feasibility Study

A positive Pre-Feasibility Study was completed for the project, based on an initial 25-year life, demonstrating a financially viable project.

The PFS completed in May 2020 and updated in August 2021 assumed that beneficiation to a concentrate would take place at the project site near Richmond and the downstream recovery would be undertaken offshore.  The BFS will focus on downstream recovery to be conducted in Queensland.

RVT is looking to be the first step in a local mining to metals to battery manufacturing corridor and aims to produce 12,701 tpa of V₂O₅ battery grade flake.

The Queensland Government announced it would build and own a new critical minerals demonstration facility in Townsville for downstream refining of vanadium concentrate to vanadium pentoxide suitable for battery use. This is part of the state’s plan to make Queensland a leading producer and exporter of new-economy minerals.  The facility will be able to be used by multiple, smaller mining companies that do not have the available capital to set up their own recovery facilities.  RVT is on the panel to discuss design development and access arrangements.