Vanadium Resources (ASX:VR8) Advances Steelpoortdrift DFS With SRL Site Acquisition

Vanadium Resources Limited (ASX:VR8) is making some serious strides at its flagship Steelpoortdrift Project, one of the world’s largest and highest-grade vanadium deposits.

In a major development, the company’s subsidiary Vanadium Resources (Pty) (VanRes) has entered into an option agreement to acquire a 135-hectare industrial land for the proposed Salt Roast Plant (SRL Plant).

The proposed SRL site will be in close proximity of nearly 15km from the Steelpoortdrift Mine site, thereby reducing trucking distance by half, saving costs and resulting in significant ESG efficiencies.

VR8 is currently advancing the Definitive Feasibility Study (DFS) on the project, which is expected to be finalised in September 2022. The DFS is focused on mining operations and the construction of a concentrator and salt roast plant.

The concentrator and SRL plant are expected to have an initial capacity of 12,500tpa of V2O5 flake at an estimated CAPEX of US$200 million.

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