Vanadium is a critical mineral in new energy applications such as vanadium flow batteries for large scale energy storage and cathodes for lithium-ion batteries. As these markets continue to grow, AusVan is developing the Allaru Vanadium project to support supply for these new battery markets.

Vanadium is a unique metal with a bright future. The majority of global production comes as a by-product product from the manufacturing of steel. Due to the nature of this supply source, additional supply is difficult to bring online when prices increase.

Largo (TSX:LGO) and Bushveld (AIM:BMN) are the only primary vanadium producers outside of China. As vanadium has been designated ‘critical mineral’, additional primary supply sources are required.

Vanadium flow batteries are a growing market with significant potential. Grid scale storage for renewable generation is a growing market. Vanadium prices peaked in 2018 when China increased their standards for the strength of rebar, which requires more vanadium. Prices have since fallen to lower levels, however the metal has a strong medium-long term future supported by both the battery and steel markets.