Posts Tagged ‘Vanadium’

ASX Company News: Continental Coal Sells Vanadium Company

Tuesday, May 10th, 2011

South African focused coal mining company Continental Coal Limited (CCC) is pleased to announce that it has finalised the sale of its shareholding in Vanadium and Magnetite Exploration and Development Co (SA) (Pty) Limited. The sale of its shareholding in Vanmag will result in net proceeds of US$10 million to be received by the Company. Continental Coal Limited (CCC) is a South African thermal coal producer with a portfolio of producing and advanced coal projects located in South Africa’s major coal fields. Continental currently has two operating mines, Vlakvarkfontein and Ferreira, producing 2Mtpa of thermal coal for the export and domestic markets.

In 2011, Continental is set to commence development of two further thermal coal mines. Continental is targeting a ROM production rate of 7Mtpa by the end of 2012. The Company has concluded strategic off-take and funding agreements with EDF Trading for its export thermal coal production and recently signed a joint development agreement with KORES, Korea’s state mining and exploration company.

www.conticoal.com

http://www.traderdealer.com.au/Fundamentals/ccc

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ASX Company News: Atlantic Appoints Contractors to Build Vanadium Plant

Tuesday, January 25th, 2011

Atlantic Ltd (ATI) is pleased to announce that its wholly-owned subsidiary Midwest Vanadium Pty Ltd has appointed a number of key contractors to complete major works at the Windimurra vanadium project 600 kilometres north of Perth, Western Australia.

As previously announced on 1 December 2010, Electrical Construction & Maintenance Australia Pty Ltd and Kerman Contracting Limited were appointed as key contractors for the first stage of works. Both contractors have now been retained to undertake the complete electricity instrumentation and structural, mechanical and piping capital works required to complete the project.

EC&M has been appointed as electrical and instrumentation contractor by MVPL. EC&M has prior experience with Windimurra and brings a significant level of background knowledge on the project to the electrical work required to be completed. Kerman will be responsible for structural, mechanical and piping work required for the completion of Windimurra.

The three contractors will work closely with PinC Group Pty Ltd, an experienced and well resourced project management services group which is working alongside MVPL to oversee the construction of Windimurra. Production at Windimurra is expected to commence in the third quarter of 2011 with a nameplate capacity of 5,700 tonnes per annum of contained vanadium.

Atlantic Managing Director Michael Minosora said: “We are pleased to have secured the major works contractors, along with previously announced Minepower, to finish the Windimurra project. The project is around 85% complete and is on track for first production in the third quarter of 2011”.

Atlantic is committed to building a diversified portfolio of world class resources assets that will provide superior returns to shareholders. Atlantic combines its strong financing capability with a highly disciplined and innovative approach to acquire resources projects that are low cost, long life and near production. Atlantic subsidiary Midwest Vanadium Pty Ltd owns 100% of the Windimurra vanadium project, located approximately 600 kilometres north of Perth in Western Australia. Windimurra is one of the largest proven vanadium reserves in the world. EC&M is a Australian Electrical and Instrumentation group, providing extensive engineering construction and maintenance to the resources, energy and infrastructure sectors. Kerman specialises in mine site infrastructure, industrial processing plants, bulk product storage facilities, material handling systems, industrial facilities and sustaining capital works. Its clients are among Australia’s largest companies in the resources, agriculture, processing and manufacturing sectors.

www.atlanticltd.com.au

http://www.traderdealer.com.au/Fundamentals/ati

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ASX Company News: Atlantic Enters Sales and Marketing Agreement

Monday, January 24th, 2011

Atlantic Ltd (ATI) is pleased to announce the execution of a major sales and marketing agreement between its wholly-owned subsidiary Midwest Vanadium Pty Ltd, Wengfu (Group) Co Ltd and Element Commodities Ltd for the sale of 100% of the ferrovanadium production from the Windimurra vanadium project in Western Australia.

Wengfu is a major Chinese state-owned mining and chemical manufacturing group and a leading international player in the phosphate and fertiliser sector. Element is a specialist Hong Kong-based global supply chain and commodities trading firm. Financially backed by Wengfu, Element manages the global flow of raw materials with significant expertise in marketing vanadium. Under the Agreement, Wengfu will purchase 100% of MVPL’s annual ferrovanadium production at prevailing market prices, subject to an agreed minimum and maximum sales price (a collar mechanism) for up to a maximum of 65% of MVPL’s annual vanadium production. Element will market the ferrovanadium production from Windimurra purchased by Wengfu from MVPL to end customers at an attractive commission.

Atlantic Managing Director Michael Minosora said Atlantic was delighted to be working with the  Wengfu and Element commodities trading group. “This agreement represents an exceptional price protection and marketing solution for Windimurra,” Mr Minosora said. “The collar price mechanism exemplifies the innovative approach we are taking to maximise the value of Windimurra.” “This sales and marketing agreement secures a strong customer for all of Windimurra’s ferrovanadium production and underwrites the long-term viability of the project, thereby enhancing its financial attractiveness.”  “We look forward to developing a strong, long-term relationship with both Wengfu and Element.”

Atlantic is committed to building a diversified portfolio of world class resources assets that will provide superior returns to shareholders. Atlantic combines its strong financing capability with a highly disciplined and innovative approach to acquire resources projects that are low cost, long life and near production.

The Wengfu Group is a Chinese state-owned enterprise and a leading player in the phosphate rock and fertiliser business. Located in Guizhou Province, Wengfu is one of China’s largest exporters of ammonium phosphate fertilisers and phosphate chemicals and a significant importer of sulphur and sulphuric acid. Through its Singapore subsidiary, Graceland Industry Pte Ltd, Wengfu is expanding its involvement in the resources and energy sector based on growing demand for raw materials from steel and power enterprises in China.

Element Commodities Ltd is a global supply chain manager of natural resources. Headquartered in Hong Kong, Element operates regional offices on five continents to manage the global flow of raw materials for steel and other commodities. Financially backed by Wengfu, Element manages the global flow of raw materials on behalf of clients and is a leading player in the global ferro-alloys market with significant expertise in marketing vanadium.

www.atlanticltd.com.au

http://www.traderdealer.com.au/Fundamentals/ati

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ASX Company News: Atlantic To Acquire Vanadium Project

Friday, August 6th, 2010

Atlantic Ltd (ATI) is pleased to announce the signing of a binding term sheet to restructure the transaction with Mineral Resources Limited (MRL) to acquire the Windimurra vanadium project (Project).   In April 2010, Atlantic announced that a consortium of Atlantic and MRL had agreed to work together to acquire an effective 90% equity interest in Midwest Vanadium Pty Ltd (MVPL), the company that holds 100% of the Project.

Under the terms of the revised agreement, Atlantic will acquire the full effective 90% equity interest in MVPL and MVPL will also acquire the existing beneficiation plant at Windimurra owned and operated by MRL.  This revised agreement represents a superior transaction outcome for Atlantic whilst for MRL it fast tracks repayment of its existing unsecured debt position with MVPL.

Atlantic Managing Director Michael Minosora said he was pleased that Atlantic and MRL had agreed to restructure the Project acquisition agreements.  “We believe that the Windimurra project is a high quality project that can now deliver improved returns for Atlantic’s shareholders and for our funding providers as well as be a major contributor to the WA and the Mt Magnet communities,” said Mr Minosora.  “We believe Windimurra is a great opportunity for Atlantic shareholders and we are delighted that we can now move to completion of the transaction later this month and begin work to bring the Project into production in the first half of next year.”

Under the terms of the agreement, Atlantic will acquire MRL’s initially proposed 27.5% equity interest in the project vehicle that will hold 100% of the issued capital of MVPL at completion.

Atlantic will pay a non-refundable deposit of $500,000 to MRL at completion of the transaction to acquire the 90% effective interest in MVPL, and then make a further non-refundable payment of $2,500,000 on or before 24 December 2010 and pay the balance on or before 1 April 2011.

MVPL will acquire the existing beneficiation plant at Windimurra owned by MRL on or before 1 April 2011 for $60,000,000.

www.atlanticltd.com.au

http://www.traderdealer.com.au/Fundamentals/ati

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NiPlats Measures Australia’s Largest Vanadium Deposit

Friday, February 6th, 2009

NiPlats has completed the initial measurements of Australia’s largest vanadium deposit.  Niplats identified the total Indicated and Inferred Mineral Resource for the combined low and high grade zones to be 851 million tonnes at 0.32% V2O5 (at 0.23% V2O5 lower cut-off grade).  The favourable location of the resource near the surface and a gentle slope combined with the very high vanadium concentration, significantly enhance the opportunity for a commercially viable vanadium project.

Vanadium is mainly used to produce specialty steel alloys such as high speed tool steels. The compound vanadium pentoxide is also used as catalyst for the production of sulfuric acid. 

The Company has identified the high grade basal zone to provide focus for scoping studies to be carried out in 2009 where preliminary investigations suggest a potential 20 to 30 year mine life. 

http://www.niplats.com.au/

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