Mustang Energy Share Discussion Threads

[megaman2] 30/12/2022 07:29

Rightly or wrongly I have been using the goings on at invinity and it's mkt cap as a bellweather to predict what might transpire here unfortunately the recent cash raise by ies using a discounted vwap from a known company often referred to as death spiral finance does not bode well and indicates the struggle to current find finance which is definitely required at must .

[dontay] 21/12/2022 13:44

Https://twitter.com/cellcube/status/1605553228283682824?s=20&t=oaCehUCMS5KMJztI68_BHA? AUTONOMY CUBED – reducing carbon footprint in mining ?So glad our 1MW-4MWh CellCube Vanadium Redox Flow Battery storage system has left our premises a few days ago, on the way to @BushveldMin_Ltd/@NesaCapital in South Africa. It is our flagship project in the mining sector!

[megaman2] 13/12/2022 08:42

I'm more hopeful now that invinity share price has increased dramatically likely will continue increasing into the new year then $80 mill here won't look so daft in comparison

The longer delay the Better...as cash raise needed

[dontay] 08/12/2022 09:20

September was vanadium month for Chinese power stationsThe technology is not new: Vanadium batteries have been in use for years in large-scale utilities, and research on vanadium flow batteries has been conducted in China since the late 1980s. In 1995, the China Academy of Engineering Physics produced China's first prototype vanadium battery.In September, however, important developments occurred in China related to the commercialization of vanadium batteries:On September 20, construction commenced on China's first gigawatt-hour (GWh) vanadium flow power station in Qapqal Xibe, Xinjiang, with a total installed capacity of a million kilowatts (kW). The project is expected to be fully connected to the grid before the end of 2023.On September 28, a contract was signed in Jishou, Hunan Province, for the construction of a 400-megawatt (MW) vanadium flow energy storage power station with a total investment of 680 million yuan ($94.46 million), expected to be completed and connected to the grid at full capacity by the end of June 2023.On September 29, a 100-MW vanadium flow battery energy storage power station and national demonstration project entered the final stage of commissioning in Dalian, Liaoning Province, and is expected to fully enter service in mid-October. The station has a power rating of 100,000 kilowatt-hours (kWh) and can store up to 400,000 kWh of electricity. It can meet the daily electricity demand of 200,000 residents.The vanadium battery companies to watchThese new vanadium power plants are accompanied by developments in downstream battery manufacturing:On August 2, HBIS ????, China's second-largest producer of vanadium, announced that it had constructed a 1,000-ton-per-year high-purity vanadium production line, and a 1,000-ton-per-year vanadium electrolyte production line.On October 11, Pangang Group Vanadium and Titanium Resources ????, China's leading producer of vanadium, launched a joint venture with battery developer Rongke Power ???? for the construction of a vanadium electrolyte production line in Sichuan Province, and for exploring business models for the commercialization of vanadium battery energy storage.On October 13, titanium dioxide manufacturer CNNC Hua Yuan ????, which had announced a centralized procurement system for vanadium redox flow battery energy storage in September, announced an investment of 510 million yuan ($70.84 million) for the establishment of a new subsidiary focused on vanadium technology. In July, CNNC Hua Yuan launched a strategic venture for the development of the entire industry chain of vanadium redox flow batteries.According to an industry white paper on China's vanadium battery industry published this year, the scale of vanadium batteries in China will reach 2.3 GW by 2025 and 4.5 GW by 2030, when the cumulative installed capacity of vanadium battery energy storage projects will reach 24 GW with a total market size of 40.5 billion yuan ($5.62 billion).HTtps://thechinaproject.com/2022/10/18/the-dawn-of-the-vanadium-battery-age-in-china/

[dontay] 08/12/2022 09:07

Australia, 8 December 2022Energy ministers agree to fast-track big batteries and long duration storage.Federal and state energy ministers have agreed on a new mechanism that can fast-track the development of big batteries and long duration storage as the country seeks to accelerate its switch from coal to renewables.The ministers met in Brisbane on Thursday to discuss a new mechanism that seeks to reward new zero emission technologies rather than the legacy fossil fuel plants that were seemingly favoured in previous proposals put forward by the Energy Security Board.The so-called Capacity Investment Scheme (CIS) will provide a national framework to drive what federal energy minister Chris Bowen describes as "new renewable dispatchable capacity" and ensure reliability in Australia's rapidly changing energy market over the next decade and beyond.The scheme appears based – as foreshadowed by RenewEconomy on Wednesday – on the NSW renewable infrastructure plan, and will involve tenders for a revenue underwriting mechanism that help will unlock around $10 billion of investment in clean dispatchable power, essentially batteries and long duration storage.Auctions and revenue floors"It is more necessary that ever in these challenging times," Bowen said in a media release."The 2022 winter energy crisis was a stark reminder of how vulnerable Australia's energy market currently is to market shocks, due to the previous Government's legacy of 4GW of dispatchable power leaving the grid over the past decade, and only 1GW replacing it."We need to turn that around.Like the NSW scheme, the CIS will involve regular auctions to determine a price for a "revenue floor", which will provide some certainty for financiers to back a project.The ministerial statement said the agreed revenue 'floor' will help cover project operating costs and debt repayments, with the Government paying the difference when revenues fall short, and a share of profits returned whenever revenues exceed an agreed 'ceiling'.Existing tenders to continueThe ministers say the CIS will complement, rather than overlap with existing state schemes, such as the NSW Electricity Infrastructure Roadmap. That means it will not alter competitive tenders currently underway.The NSW government has been overwhelmed by interest in its first auction, and has flagged a second and third in 2023. It is not clear what that means for future tenders, and how these will dove tail with the national scheme.The federal Labor government has set a 82 per cent renewable share as its de-facto target for 2030, in line with the "step change" scenario of the Australian Energy Market Operator's Integrated System Plan.States such as Victoria (95 per cent by 2035) and Queensland (80 per cent by 2035) have more formal targets, and all have proposed some form of target for energy storage...........Https://reneweconomy.com.au/energy-ministers-agree-to-fast-track-big-batteries-and-long-duration-storage/

[jonny_wright] 06/12/2022 20:55

I just want my money back, this is now approaching 2 years suspended, it's unforgivable

[dontay] 05/12/2022 18:31

Redox Storage Solutions (CellCube)Redox Storage Solutions provides high-quality systems for the storage of sustainable energy from solar panels and wind turbines.Our Vanadium redox flow batteries (VRFB) are reliable, have a very long life, lose no capacity, do have a 100% depth of discharge, completely fire and explosion proof and are very environmentally friendly.The battery is independently scalable in capacity and power, making it very suitable for homes, business and industrial applications. The return is high: end users can now increase their own energy consumption from sustainable sources from 30% to 80%. Thanks to the smart, patented design, Redox Storage Solutions also supplies the most compact VRFB on the market..............HTtps://redoxstorage.com/en/system/

[megaman2] 29/11/2022 17:54

By the time they raise some money there is going to be 200 mill plus shares in issue ..

20 p share price will be £40 mill with 200 mill shares ...valuing cellcube at £80 mill...

Invinity is only c £25 mill mkt cap....lots of unknowns here still ..but surely cellcube needs significant money ..it's in talks considering building this factory in Australia and funding 50 % plus lights on money and developing its new compact vfrb ..must need another $30 mill minimum .invinity has already burnt through most of $90 mill....

It's hard to see how cellcube mkt cap at this time should be worth more than invinity ..Especially because of court case and the proposition of buying into must which only holds c 50 % of cellcube .....if it's only worth c £25 mill you can throw some figures out there for an share price of 5p-6 p...as a comparison to invinity ....they need to tell some story to look for anything higher as their internal valuations are exactly that ..

[dontay] 29/11/2022 08:01

Could Australia lead the charge for Vanadium Redox Flow Batteries?Enerox (CellCube) and North Harbour Clean Energy are considering building a VRFB manufacturing plant in Australia.Blue ViewLast week, the two entities signed an agreement to build an assembly and manufacturing line in Eastern Australia to meet GWh demand for long-duration energy storage in the National Electricity Market (NEM).The first project executed by the partnership will be developing the continent's largest VRFB, which generates 4MW-16MWh based on CellCube's proprietary technology. CellCube and NHCE will also conduct a feasibility study and work towards a final investment decision on a 50:50 joint venture to manufacture VRFBs in Australia.NHCE and CellCube will collectively review and select the best site to deliver an initial annual production capacity of at least 40MW/160MWh, with a target of 1,000MW/8,000MWh per year. This represents serious scale.  For reference, the world's largest installation to date is the 200MW/800MWh installation in Dalian, China, developed by Rongke Power.  That one installation contains an estimated 3,600t of vanadium contained in electrolyte.  As such, 8,000 MWh of annual capacity represents 36,000t of vanadium – that's one-third of the size of today's entire vanadium market.Critically, the partners did not suggest a timeframe for reaching such a large capacity and have set out an intent to start small (160MWh requires a more modest 720tpy of vanadium in electrolyte). Project Blue has recently revised its outlook for VRFBs and remains positive about the likelihood of the technology's widespread commercialisation.  By 2050, the VRFB market accounts for ~30% of total vanadium demand in our base case.  This new demand will require electrolyte from new projects, most of them unknown at this stage.  But critically, vanadium feedstock will also be required, and this cannot be "turned on" at scale overnight.Https://theprojectbluegroup.com/news-details/could-australia-lead-the-charge-for-vanadium-redox-flow-batteries

[megaman2] 28/11/2022 11:14

Absolute lies been told here fact .

[begorrah88] 28/11/2022 10:19

So MUST kicks it down the road for another 4 months, Gallegos continues to rake in £10k pm for another 4 months. BMN continue to play MUST like puppets.Meanwhile MUST shareholders have sweet FA to show for their patience & now have a new pretend date for DG to kick further down the road.As you say megaman, seems all that FCA nonsense was total BS.

[dontay] 24/11/2022 16:22

Sichuan ibuilding a world class V and Titanium new material cluster.The layout of the vanadium battery industry is accelerating, and Sichuan is building a world-class vanadium and titanium new material cluster.As a "rookie" in the electrochemical energy storage family, the industrialization of "vanadium batteries" has gradually opened recently, and positive news has also been released on the policy front.On the 23rd, five departments including the Sichuan Provincial Department of Economy and Information Technology jointly issued the "Implementation Opinions on Promoting the High-quality Development of the Vanadium and Titanium Industry" (hereinafter referred to as the "Implementation Opinions"), proposing that by 2025, the integration of vanadium battery systems will reach 1GW/year. Affected by this news and market factors, several vanadium battery concept stocks strengthened on the 24th. Zhenhua shares rose by the intraday limit, and vanadium and titanium shares rose by 5%.According to the "Implementation Opinions", by 2025, Sichuan Province will form a development pattern with reasonable layout, prominent brand, high level of intelligence, green, low-carbon and sustainable development and a world-class cluster of new vanadium and titanium materials, with an output value of more than 200 billion yuan . Vanadium (calculated as vanadium pentoxide) products reaches 100,000 tons/year, vanadium electrolyte reaches 75,000 m3/year, and vanadium battery system integration reaches 1GW/year. Support iron and steel enterprises to increase the application of vanadium, promote the application of vanadium in non-steel fields such as vanadium batteries, and support the demonstration of "new energy + energy storage" vanadium battery energy storage.Https://m.yicai.com/news/101604982.html

[megaman2] 24/11/2022 09:43

They have agreed to do a feasibility study
...
And it will be 50:50 funded ...
Cellcube don't have any money ...
This will take time and money .

[dontay] 24/11/2022 09:42

8 GWh flow-battery manufacturing facility:Australian renewables developer North Harbour Clean Energy will team with European battery energy storage systems supplier CellCube to establish a vanadium redox flow battery manufacturing and assembly facility in Australia with a projected capacity of up to 1 GW/8 GWh per annum.Https://www.pv-magazine-australia.com/2022/11/24/cellcube-eyes-australia-for-8-gwh-flow-battery-manufacturing-facility/

[dontay] 24/11/2022 09:27

CUBE PLANS FOR VANADIUM REDOX FLOW BATTERY MANUFACTURING FACILITY AND PURCHASE OF 4MW-16MWH VRFB LIGHTHOUSE PROJECTNovember 23rd, 2022The global high-tech leader for Vanadium Redox Flow Batteries (VRFB), Enerox GmbH, better known as 'CellCube', and Australian clean energy storage owner and operator, North Harbour Clean Energy PTY Ltd (NHCE), have signed a Strategic Manufacturing Cooperation Agreement to build an assembly and manufacturing line in Eastern Australia to meet GWh demand for long duration energy storage in the National Electricity Market (NEM).The first project executed by the partnership will be developing the continent's largest VRFB, which generates 4MW-16MWh based on CellCube's proprietary technology. CellCube and NHCE will also conduct a feasibility study and work towards a final investment decision on a 50:50 joint venture to manufacture VRFBs in Australia.VRFBs are large-scale, battery storage systems which can store excess power from the grid and can be used in combination or parallel with other renewable energy sources to allow for cheaper, safer, and more scalable energy consumption.VRFBs do not suffer from the multiple issues faced with lithium-ion batteries (LIBs) such as their flammable nature, short life span, rapid degradation, lack of recyclability and lack of flexibility. On a levelised cost of storage basis, VRFBs already outperform LIBs whilst having none of the drawbacks associated with them.There is significant demand for long duration energy storage systems such as VRFBs to allow for 24/7 delivery of carbon free electricity to meet net-zero goals driven by the demand to meet Australia's legislated carbon reduction targets and the rapid build out of utility-scale variable renewable energy together with the accelerated shutdown of baseload coal-fired generators.NHCE – which is backed by one of Australia's largest superannuation funds, Aware Super – has already secured a large project pipeline to include deployments of VRFBs."We are excited to bring manufacturing of this Australian-invented and critical energy storage technology to Australia with our strategic partner CellCube", said NHCE Managing Director and founder Tony Schultz."NHCE and CellCube will collectively review and select the best site to deliver initial annual production capacity of at least 40MW/160MWh, with a target of 1000MW/8000MWh per year and creating more than 200 new jobs in the short term."We believe there are two factors behind our belief that VRFB is the right grid-energy storage technology to install in Australia at scale. The first is that VRFB technology, having been developed in Australia at the University of New South Wales (UNSW) in the mid 1980's, is now on the road to being an accepted alternative battery energy storage technology globally while the second is Australia's abundant vanadium resources."NHCE and UNSW last year launched a jointly-owned company focussed on further improving the cost and efficiency of this cost-competitive technology.CellCube CEO Alexander Schoenfeldt said: "Following our own research & development initiatives both internationally and in Australia to support the vision of large-scale production and deployment of VRFBs as the preferred energy storage technology long term, we are thrilled to have NHCE as a strategic partner in Australia. This cooperation with NHCE follows our business strategy to strengthen regional partnership, create a local product offering and enhance our work with Australian supply chain partners to build well designed megawatt microgrids.In addition, Australia has around 20% of known global Vanadium resources and it makes economic sense to use local Vanadium instead importing it from elsewhere."As part of the Agreement, a 4MW-16MWh CellCube system will be installed at an industrial customer to showcase the various applications which will enable them to move towards net-zero emissions targets.NHCE Executive Director of Development Steve Banning said the Agreement's objective was to provide 24/7 green power supply arrangements to support industrial and commercial customers looking to increase their use of renewable energy sources, and who face severe issues on power quality, grid constraints, rising network costs and high-power prices."In addition, we will be warranting the systems produced for 20,000 cycles or approximately 20 years of use," he said.Mr Schoenfeldt said he was excited to see the Australian market quickly picking up the opportunity of VRFBs and "to have North Harbour Clean Energy as a strategic partner who is committed to finance projects in the energy transition"."We have more than 140 systems deployed globally including several small-scale pilots in Australia and New Zealand but have been searching for the missing piece of the puzzle that makes 24/7 renewable energy available in Australia," he said adding North Harbour Clean Energy was the answer.Https://www.cellcube.com/australia-one-step-closer-to-24-7-green-power-supply-with-north-harbour-clean-energy-and-cellcube-plans-for-vanadium-redox-flow-battery-manufacturing-facility-and-purchase-of-4mw-16mwh-vrfb-lighthou-2/CellCube Enerox / GmbH CellCubeMore than happy to announce the signing of a4MW-16MWH lighthouse project in Australia - thecontinent's largest VRFB system! Moreover an Agreementfor common VRFB production with NHCE has beenconcluded. cellcube.com/australia-one-Https://twitter.com/setcentric3/status/1595691011422191616?s=61&t=5bl4qUxiLkguy-pDCwfdQg

[megaman2] 24/11/2022 08:26

Still struggling to see how cellcube which must be out of cash now will be worth as much as invinity c£25 mill mkt cap.

Don't forget the must RTo is only a part holding of cellcube ...it's internal valuation is exactly that especially as both Lind and prim exited indicating a lower value .

[megaman2] 24/11/2022 05:34

We are excited to bring manufacturing of this Australian-invented and critical energy storage technology to Australia with our strategic partner CellCube”, said NHCE Managing Director and founder Tony Schultz.

“NHCE and CellCube will collectively review and select the best site to deliver initial annual production capacity of at least 40MW/160MWh, with a target of 1000MW/8000MWh per year and creating more than 200 new jobs in the short term
Also:

NHCE founder Tony Schultz said the Strategic Manufacturing Cooperation Agreement will see the two companies conduct a feasibility study and work towards a final investment decision on a 50:50 joint venture to manufacture VRFBs in Australia.


Feasibility study ....
50:50

It's just talk and needs funding

[megaman2] 24/11/2022 05:32

Finally some good news from cellcube . A 16mwh order and a contract to build a factory for production in Australia ...might need some funding

[megaman2] 20/11/2022 05:52

When are they going to come out and tell us that bmns enerox shares are going to be reversed in to ..and signal more delays ? Or admit they can't raise any money and cellcube is in liquidation ...anythings possible here ...we don't know because the company is silent ..
The underlying asset here is now worth significantly less than 19 months ago how is this going to work ?

[megaman2] 18/11/2022 14:59

Cellcube looks screwed anyway it's cash must have ran out and it's off the shelf model flopped because it was too expensive ..
The strategy to build an even smaller model which surely will be pro rata even more expensive seems fundamentally flawed ..
No sales
No cash
Too expensive product ..
Feuding owners bmn also broke ..
Lind and prim with the inside track bailing ..
Extension after extension missed with radio silence ...
These are the facts and reality .

[begorrah88] 18/11/2022 09:21

Usual 2 fingers up to shareholders from Mustang.

Ran away with everyone's money 19 months ago and not even the decency to tell people what is happening.

I suppose we will get an update at the last allowable date [end of Nov based on 28 days + 5 days etc] as DG tries to kick it down the road one last time to ensure he keeps his salary coming in for a few more months. He's always got the 'Covid' or 'Ill health' card to play to squeeze a few more weeks out of it.

Maybe it was BMN who screwed this all up, maybe it was the FCA being overly demanding [although you have to wonder how DG is unable to understand what the requirement is after all these delays] or maybe he is just out of his depth.

Whatever the reason, to refuse to inform your shareholders when key dates have passed is bad form.

[dontay] 15/11/2022 16:17

US government launches US$350 million long-duration energy storage demonstration funding.November 15, 2022Long-duration energy storage (LDES) projects in the US will be able to compete for a share of "nearly US$350 million" of government funding.The funding, unlocked by the passing of the Bipartisan Infrastructure Law in late 2021, will be administered by the US$20 billion US Department of Energy (DOE) Office of Clean Energy Demonstrations, which was opened as part of the landmark legislation.The DOE announced yesterday that energy storage technologies offering between 10 and 24-hours storage duration will be eligible for a slice of the US$349 million total. Up to 11 demonstration projects will be selected that have the potential to move the needle towards the Department's long-term goal of reducing the cost of LDES by 90%.Up to 50% of the cost of each project will be paid out, with letters of intent due by 15 December and full applications due in by 3 March 2023."Advancing energy storage technologies is key to making energy generated from clean renewable resources-like wind and solar-available for 24/7 use, and is critical to achieving a decarbonised power grid and reaching President Biden's ambitious climate goals," US Secretary of Energy Jennifer Granholm said."DOE is taking huge steps to lower the cost and increase the duration of energy storage technologies so that clean, reliable, affordable electricity is available whenever and wherever to everyone, especially Americans living in remote and underserved communities."Long-term goals on long-duration energy storageAs the penetration of renewable energy on the US grid grows, so too does the need for energy storage to balance out peaks and troughs in demand and production. The duration requirement of that storage also grows at higher percentages of renewables.Lithium-ion batteries commonly used for grid storage are typically considered more cost-effective for durations of up to 4 hours. Although some recent projects announced will see 6- and even 8-hour lithium-ion systems deployed, the energy industry seeks viable alternatives for technologies that can offer scalable long-duration storage for several hours, overnight use, or in some cases even longer.The state of California recently just paid out US$31 million funding for a hybrid microgrid using vanadium redox flow battery and zinc hybrid cathode battery technology, which is the first project to get funded from a US$380 million pot.It has been a strategic aim of the US government to reduce the cost of long-duration storage even during the term of Donald Trump as president, with the Energy Storage Grand Challenge competitive funding opportunity launched during his tenure.However, as with other clean energy efforts, long-duration energy storage market seeding activity has stepped up since Joe Biden took office, with the DOE funding a new US$75 million centre for LDES research at Pacific Northwest National Laboratory (PNNL). The Bipartisan Infrastructure Law, aka the Infrastructure Investment and Jobs Act, was a sort of companion piece to the more recently passed Inflation Reduction Act (IRA).Biden described the pair as the greatest steps taken to fight climate change in US history, with the IRA offering incentives for downstream deployment of solar PV, wind and batteries, and the Bipartisan Infrastructure Law offering incentives and stimulus to the upstream, supply side of the clean energy sector.Other Bipartisan Infrastructure Law initiatives underway include a US$335 million programme to support battery recycling and US$675 million funding for critical minerals R&D. A total of about US$7 billion support for domestic electric vehicle (EV) and stationary energy storage battery value chains will be paid out through the law.Https://www.energy-storage.news/us-government-launches-us350-million-long-duration-energy-storage-demonstration-funding/

[dontay] 15/11/2022 16:12

Supply potential remains despite exponential vanadium demand forecasts.Nov 15, 2022Given the pace at which the world aims to decarbonise by transitioning away from fossil fuels towards a low carbon economy, demand for the commodities needed to achieve a net-zero future has surged, raising questions around supply.Vanadium is one of the critical commodities required in the clean energy transition. As the 22nd most abundant element in the earth's crust, vanadium is more abundant than some of the other critical future metals including copper, nickel, cobalt, lithium, and chrome.With 22 million metric tonnes (mt) of known global reserves of vanadium, there is enough vanadium in the ground to meet current market demands for more than 150 years, with several potential high-grade undeveloped vanadium projects identified globally, and several untapped secondary sources of vanadium capable of being exploited.Vanitec, the not-for-profit international global member organisation whose objective it is to promote the use of vanadium-bearing materials, says that while vanadium is mainly used within the steel industry, vanadium is increasingly being recognised for its use in vanadium redox flow batteries (VRFBs). These long duration batteries can store large amounts of electrical energy produced by solar and wind power generators daily to drive the deep decarbonization of electric power systems.Demand drivers of vanadiumAccording to data published earlier this year by market intelligence and advisory firm, Guidehouse Insights, global annual deployments of VRFBs are expected to reach approximately 32.8 GWh per year by 2031. Based on this projection by Guidehouse, the total amount of vanadium needed to meet this level of VRFB deployment would equate to 130,000 mt of new vanadium per year by 2030, according to Vanitec calculations.VRFBs are not the only demand driver of vanadium consumption. About 90% of vanadium demand comes from the steel industry, with around 6-7% demand from the chemical industry and around 2-3% demand from the titanium alloy industry."When adding the potential forecast vanadium demand from energy storage to the current data on total vanadium consumption, the forecast shows that total vanadium demand could increase to close to 300,000 mt by 2030 from the current 115,000 mt of annual vanadium consumption," Terry Perles, Director of US Vanadium – a Vanitec member company – said during the organisation's 11th Energy Storage Committee Webinar in September."This equates to a doubling of demand for vanadium over the next eight years, driven primarily by the growth in VRFB demand" Perles highlighted.While the average growth rate in global vanadium production volume has increased by about 7% a year over the past two decades, vanadium production volume will need to grow by a little over 10% each year for most of the balance of the decade to meet the future vanadium demand that Guidehouse forecast.Current and future vanadium productionAbout 128,000 mt per year of vanadium is produced globally, with significant potential to unlock further vanadium production capacity in the coming years through capacity expansions of current vanadium producers and the recommissioning of idled production plants. According to Perles, doing so could unlock just over 100,000 mt of additional vanadium production. The capacity expansions have the highest probability of realisation with the fastest route to production.In addition to capacity expansions, Perles estimates that about 70,000 mt of new sources of production through greenfield project development would be required to reach the estimated 300,000 mt of future vanadium demand. Most of the recent greenfield projects announced for development are of a co-production or multi-commodity nature.China is expected to continue to remain a major source of vanadium supply in future, followed by Australia, which is expected to emerge as a major supplier in the coming years through the establishment of new vanadium projects in the country. Somewhat smaller, but still important, new vanadium supply is expected to emerge from the Middle East towards the middle of the decade, said Perles, primarily in the form of secondary vanadium materials recovered from petroleum residues from the oil industry.Raw material sources of vanadiumThere are three major sources of raw materials that support vanadium production globally.The most important source is co-product steel slag, which is a vanadium bearing slag containing 14-24% vanadium trioxide content. This slag is produced as a co-product during steelmaking from the processing of vanadium-bearing magnetite ores. This source of vanadium currently supplies about 70% of the world's vanadium needs.Vanadium is also extracted from primary sources, which are mining operations that typically extract vanadium from vanadium-titanium-bearing magnetite ore bodies in countries including South Africa, Brazil, and China. Moreover, there is potential to extract vanadium from stone-coal mining operations in China, and from a large multi-element mining project potentially currently in development in Kazakhstan in future.Lastly, there are secondary material sources of vanadium, in which vanadium (and other trace elements such as nickel) is recovered from the petroleum industry, including petroleum residues and the recycling of spent catalysts used in crude oil refining.A new standard reducing the allowable sulphur content in bunker fuel for ships was imposed in 2021.  As a result, we will see significant increases in vanadium available for recovery from spent heavy oil residue upgrading catalyst in the next few years. Facilities are under development now to process these spent catalysts and contribute to the vanadium supply base."Because it takes much less time to develop a secondary vanadium material production facility to recover vanadium than it is to develop a new vanadium mine, we expect to see significant increases in secondary sources of vanadium in the near term, with new primary sources of vanadium coming online in the longer term, said Perles.Https://africanminingmarket.com/supply-potential-remains-despite-exponential-vanadium-demand-forecasts/14650/