https://newsletter.en.creamermedia.com
Africa|PROJECT|Resources|Technology
Africa|PROJECT|Resources|Technology
africa|project|resources|technology

VR8 mulls most favourable terms after signing third offtake MoU

13th May 2024

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Australia-headquartered Vanadium Resources (VR8) has signed a memorandum of understanding (MoU) with China-based Hunan Zhongxin New Materials Technology for the offtake of 4 000 t/y of vanadium oxide, over a period of five years.

The nonbinding MoU states that Hunan can extend the offtake agreement by a further five years.

VR8 owns 74% of the Steelpoortdrift vanadium project, in South Africa’s Limpopo province.

The company has secured three nonbinding MoUs within the last month, which exceeds 100% of the project’s Phase 1 output.

The other MoUs signed were with Panjin Hexiang New Materials Technology and Enerflow Technology, which are also based in China.

The competitive tension will allow VR8 to extract the best financing terms for supply from Steelpoortdrift, including potential for pre-payment, corporate investment and project-level interest.

This will minimise dilution and maximise project net present value for shareholders, VR8 states.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Image of construction workers/cranes/buildings
Murray Park library upgrade, South Africa
Updated 2 hours 52 minutes ago By: Sheila Barradas

Showroom

The Southern African Institute of Mining and Metallurgy
The Southern African Institute of Mining and Metallurgy

The SAIMM started as a learned society in 1894 after the invention of the cyanide process that saved the South African gold mining industry of the...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.07 0.164s - 190pq - 2rq
Subscribe Now