Nevada Mining Rush Is Back On And It’s Not Gold!
Date: Nov 2, 2018
When it comes to vanadium, here are some pertinent facts of which you should be aware:
- Vanadium price has increased by more than 1,000% since 2016 (from US$2.5/lb to US$33.9/lb) on the back of strong demand and restricted supply. China accounts for 50% of all vanadium production, followed by Brazil, Russia, and South Africa.
- Vanadium demand is increasing globally: steel rebar, the aerospace industry, and large-scale vanadium batteries in the alternative energy space.
- In the USA, there are no active primary vanadium producing mines with most primary vanadium deposits concentrated in the northern Nevada mining belt.
- Vanadium mining and exploration companies while getting noticed by investors, have yet not reached valuation reflecting current vanadium price.
- Amongst all US vanadium mining companies, Prophecy Development Corp. (TSX: PCY, OTC: PRPCF) has the largest measured and indicated vanadium resource with a preliminarily scheduled path to production, making it the most advanced vanadium project of such standing in North America.
Nevada Gold Rush in the past, what’s the latest Fad?
The region of Nevada is one of the largest source areas of gold production in the world. Central Nevada precious metals rush started in the 1900s and brought hundreds of thousands of people from all over the world to explore gold and silver treasure.
