The British company Ferro-Alloy Resources Ltd announced a large-scale development project deposits Balasauskandyk in Kyzylorda region. The volume of investment in the first stage is estimated at $520 million. This opens up new prospects for the extraction of strategically important metal.The company presented a feasibility study, which confirmed the high profitability of the project. The field’s operational life will be at least 20 years. Every year they plan to produce 8.5 thousand tons of vanadium oxide and almost 250 thousand tons of carbon substitute.
The key advantage of the Kazakhstan deposit is the unique type of ore. These are black shales that do not require complex and expensive enrichment, unlike the widespread titanomagnetites. Thanks to this, the cost of vanadium production will be one of the lowest in the world – about $4.35 per pound
The net present value of the project is expected to reach $748 million. Low cost gives Kazakhstani vanadium a serious competitive advantage in the world market. At the second stage, British investors intend to quadruple production volumes.
The demand for vanadium is growing steadily. This metal is critical for the production of high-strength steels, batteries for renewable energy and in the aircraft industry. According to the head of the company, from 2029 the world will face a shortage of this resource.
The project in Balasauskandyk is not limited to vanadium. The deposit also contains valuable elements such as uranium, molybdenum and rare earth metals. The implementation of this project strengthens Kazakhstan’s position in the global market for strategic raw materials and attracts large foreign investments.
The material was prepared with the support of the Russian Ministry of Education and Science as part of the Decade of Science and Technology.
Source: @metalsesgtrends
