Vanadium

Does the focus on the vanadium hold up....well maybe  not if this group has its way.

See
http://www.miningglobal.com/operations/973/Largo-Resources-Looks-to-Put-Vanadium-on-the-Map
Canadian miner Largo Resources has been quietly gearing up for production at its Maracas vanadium project in Bahia, Brazil. The company, which specializes in vanadium – a unique metal used to make steel stronger and lighter, expects the project to capture 7.5 percent of the global market within a year.
"It is one of the first vanadium mines that will be going into production in a long time," said president and CEO Mark Brennan.  The company has invested $300 million in the mine, which is located in the Maracas region.
“Of every commodity, there is one best deposit and for vanadium it is Maracas. It is the richest, highest-grade vanadium deposit in the world.”
The Maracas deposit has a proven and probable reserve of 13.1-million tons, grading 1.34 percent vanadium pentoxide, 24.6-million tons, grading 1.11 percent in the measured and indicated categories, and 30.4-million tons, grading 0.83 percent in the inferred category.
Largo Resources expects the mine to reach an output rate of 9,600 t/y of vanadium pentoxide within the next 12 months. A second phase of expansion will see output rise to 14,400 t/y within the next three years, giving the company the ability to supply 10 percent of the global demand. The offtake goes to Glencore
"Asia will be the fastest-growing market for vanadium, led by China, Japan, South Korea and Indonesia," said Brennan.
"India is producing low-quality steel, but they are the world's second largest steel producer after China. Over a period of time, we expect India's consumption of vanadium to also increase.”
While the Maracas project took nearly seven years to develop, Brennan and company expect big things in the horizon.
Jack Bedder, Senior analyst at Roskill spoke about trends in the vanadium market at the Minor Metals Trade Association Conference in London last week.

Bedder predicts that steel will continue to be the key driver for vanadium, estimating growth of about 6% (CAGR). Consumption of vanadium in steel currently accounts for approximately 90% of vanadium demand presently and this is a trend that is projected to continue.
Bedder also notes that the overall consumption of vanadium in relation to crude steel still varies widely globally from 31g per 1,000t of steel in India and 37g/kt in China to 73g/kt in Europe and 93g/kt in North America.
It is expected that in future, countries with lower consumption rates will follow China’s lead and also move toward higher rebar standards.
Relating to vanadium redox batteries (VRBs), which have again been receiving much press, Bedder highlights that the battery market still only accounts for less than 1% of vanadium demand. He notes that it is an area with growth potential over the long term, but that their high cost remains the biggest obstacle to their widespread adoption.