AND HERE TIS:MOU FOR POTENTIAL SECOND, LARGER VANADIUM RECOVERY...

AND HERE TIS:

MOU FOR POTENTIAL SECOND, LARGER VANADIUM RECOVERY PLANT
HIGHLIGHTS
 Neometals’ Vanadium Recovery Project partner Critical Metals, has entered into an MoU* for a potential 10-year Slag supply agreement with green steel developer, H2GS AB;  MoU agrees evaluation framework of H2GS’s potential Slag and key commercial terms of a potential Slag supply agreement; and
 MoU represents an opportunity to significantly increase the scale and scope of proposed 50:50
(Neometals /Critical) incorporated JV to produce high-purity vanadium products from Slags using Neomtetals’ proprietary technology. Innovative project developer Neometals Ltd (ASX: NMT) (“Neometals” or “the Company”) is pleased to announce its collaboration partner in the Vanadium Recovery Project, Critical Metals Ltd (“Critical”) (via its wholly owned subsidiary,
Recycling Industries Scandinavia AB (“RISAB”)), has entered into a non-binding memorandum of understanding with H2 Green Steel (H2GS AB)(“H2GS”), for the evaluation of potential vanadium containing steel by-products (“Slag”) and key commercial terms for a potential Slag supply agreement (“H2GS MOU”).
H2GS is a limited liability Swedish company planning a fully integrated and automated green steel plant to be located at Boden in Northern Sweden (located 35km from Lulea). This potential new source Slag could underpin a second, larger vanadium production operation (“VRP2”) capable of processing 400,000tpa of Slag.
This opportunity compliments the existing agreement between Neometals and Critical for planned vanadium production in Finland to recycle Slag generated by SSAB AG (“SSAB”) (“VRP1”) (refer to ASX announcement titled “Neometals Signs High-Grade Vanadium Recycling Agreement” dated 6th April 2020”).
Further details of the terms of the H2GS MoU are set out later in this announcement.
Neometals has extensive experience in metallurgical processing of vanadium bearing feedstocks. Neometals has successfully piloted a proprietary hydrometallurgical (leaching) flowsheet for recovery of high purity vanadium from Slag (“Neometals Vanadium Recovery Technology”).
The Neometals Vanadium Recovery Technology utilises conventional equipment, is subject to two pending international patent (PCT) applications over the method to recover zero-carbon high-purity vanadium chemicals via alkaline leaching to meet the highest specifications for use in aerospace alloys and energy storage applications.
The H2GS MoU is a significant opportunity as it represents another potential source of valuable feed and highlights the growth profile for application of the sustainable Neometals Vanadium Recovery Technology.
Neometals Managing Director Chris Reed commented:
“Neometals has been working with Critical to evaluate other opportunities, to build a pipeline of suitable feedstock sources to increase future production of potentially zero-carbon, high-purity vanadium chemicals for the energy storage market. Importantly, the proposed H2GS plant and potential second Slag processing plant are located in Boden just up the road from SSAB stockpiles in Lulea.
We are confident that the H2GS Slag may too contain very high-grade vanadium given the domestic source of the iron-ore feedstocks. We look forward to our collaborative working relationship with Critical to evaluate this and other potential opportunities.”

GLAH Mal..