Australian Vanadium (ASX:AVL,OTC Pink:ATVVF) announced on Monday (January 13) that its Gabanintha vanadium project has received environmental approval from the Western Australian government.
The company said that Reece Whitby, the state’s environment minister, has approved the implementation of Gabanintha under section 45 of the Environmental Protection Act 1986 (WA).
“This approval marks a major milestone for the Company, advancing the project towards construction and production while strengthening our confidence in securing the remaining approvals needed to move forward with the consolidated Australian Vanadium Project,” said Australian Vanadium CEO Graham Arvidson in a release.
The approval encompasses a mine, concentrator, processing plant and other key infrastructure, including a bore field and camp. The company is working on optimised feasibility study (OFS) to incorporate Gabanintha into its Australian Vanadium project, which says is among the largest and highest-grade vanadium deposits.
Australian Vanadium intends to produce vanadium concentrate at Gabanintha, with high-purity vanadium oxides and an iron concentrate co-product produced at a planned processing plant in Tenindewa.
Located in the Murchison province approximately 43 kilometres south of Meekatharra in Western Australia, the Australian Vanadium project holds 395.4 million tonnes at 0.77 percent vanadium pentoxide.
The OFS will outline the potential economic benefits of an integrated project. It will be informed by preceding trade-off studies to determine the preferred project development pathway, mine scheduling and processing plant location.
The company notes that its strategy fits in with the Australian government’s Future Made in Australia plan, which is geared at supporting Australia’s transition to a net-zero economy and increasing Australian manufacturing.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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