Miner Accelerates Utah Vanadium Production, Begins Shipments

Date: Feb 18, 2019

Energy Fuels Inc. (EFR:TSX; UUUU:NYSE.American) is now producing vanadium at commercial levels and is shipping it for sale to customers, the company announced in a news release.

Specifically, the company is producing about 175,000–200,000 pounds of vanadium pentoxide (V2O5) a month. With ramp-up continuing, Energy Fuels expects to reach full production by the end of Q1/19 of 200,000–225,000 pounds of high-purity V2O5.

During January, Energy Fuels continued increasing production, attained greater purity levels of the product and finished tinkering with its process, the company reported.

As for vanadium shipments, initial amounts are “being allocated for conversion to ferrovanadium that will be sold into spot metallurgical markets,” the release explained. The company expects to also sell finished vanadium to diverse customers in various industries that require a higher-purity product. Those end users are in the metallurgy, aerospace, chemical and battery spaces, among others.

Energy Fuels reported the current midpoint spot price of V2O5 in Europe is $17.25 per pound, up 11% from year-end 2018, when it was $15.50 per pound, according to Metal Bulletin.

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