The Ferro-Alloy Resources Group (“FAR”) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan. The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process. It is planned that output will be increased in stages to reach 22,400 tonnes of vanadium pentoxide per year, mostly in the form of ferro-vanadium.
FAR is already in production processing purchased vanadium-containing secondary materials to produce vanadium in the form of ammonium metavanadate (“AMV”). FAR plans to install facilities over the course of 2018 which will enable it to increase production and convert its AMV into the more commonly traded vanadium pentoxide.
The development of Balasausqandiq is going to transform the world of vanadium. We can meet the rapidly expanding demand from battery storage as well as for the steel industry faster, at a fraction of the capital costs per annual tonne, and at a far lower cash production cost than any existing or planned vanadium producer.
Nicholas Bridgen, CEO