https://mining.com.au/australian-vanadium-secures-green-energy-major-project-status/
WRITTEN BY Aaliyah Rogan
Australian Vanadium secures Green Energy Major Project status
The Western Australian Government has granted Australian Vanadium’s (ASX:AVL) namesake project Green Energy Major Project status.
As such, the Australian Vanadium Project, located in Western Australia, will unlock domestic vanadium production which further supports the company’s strategy to deploy vanadium flow batteries to meet the nation’s growing need for medium and long duration energy storage.
The state government established the Green Energy Major Projects group to develop clear assessment pathways and provide timely support for proponents and investors, with the aim of enhancing the diversification and decarbonisation of Western Australian industries.
Australian Vanadium, which has a market capitalisation of $125.2 million, says its strategy aligns with the Australian Government’s Future Made in Australia plan which promotes domestic manufacturing and supports the nation’s transition to a net zero economy.
CEO Graham Arvidson says being recognised under the government’s Lead Agency Framework is a significant development for the company and highlights the project’s importance in Australia’s energy transition.
“This recognition strengthens our ability to secure approvals efficiently, drive local job creation and establish Western Australia as a leader in the global critical minerals supply chain,” Arvidson says.
“We look forward to collaborating with the government to accelerate project development and deliver lasting benefits to Australia’s economy and clean energy future.”
The Australian Vanadium Project is considered one of the largest and highest grade vanadium deposits being developed globally. In May 2024, an updated resource was delivered totalling 395.4 million tonnes @ 0.77% vanadium oxide.
Vanadium is a transition metal that can be used to make steel alloys for use in space vehicles, nuclear reactors, and aircraft carriers. In vanadium flow batteries, vanadium is used to create a reliable, safe, and stable solution for the storage of renewable energy.
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