Technology Metals granted Gabanintha mining leases

The mining leases were granted by the Western Australian Department of Mines, Industry Regulation and Safety for a 21-year period.

Technology Metals stated the mining leases provided all required tenure to develop the project and included leases for the northern block; southern tenement; miscellaneous licenses for the bore field and camp; general purpose leases for the northern block’s mining infrastructure; a northern exploration license; and a prospecting license application.

The leases cover all areas defined in the project’s mineral resources estimate of 109.5 million tonnes at 0.8 per cent vanadium within the northern block, and 27.7 million tones at 0.9 per cent vanadium within the southern tenement.

Technology Metals managing director Ian Prentice said the mining leases served as a significant milestone for the project.

“Grant of the (Gabanintha) mining leases is a key milestone as we continue to de-risk the development of the lowest cost quartile, large scale, long life world class Gabanintha vanadium project, complimenting the rapid progress we are making on the environmental approvals pathway,” he said.

“These achievements, along with the targeted delivery of an initial 20 year-plus project life, are expected to be very positive in regards to (Technology Metals’) ongoing engagement with project financiers, strategic partners and key stakeholders.”

Technology Metals expects global economic growth and the increasing use of vanadium in steel in developing countries to drive up near term vanadium demand.