Stated Largo and Bushveld combined produce 7% of the world’s vanadium, and with lower output/grades (largo) and a lack of cash (Bushveld) impacting both, something has to give from a supply perspective.
I think offtake will follow very quickly after EPA approval/OFS announcement. Steel and battery parties will be screaming out for guarenteed supply.
AVL price focus, page-100
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