|11 December 2018||
TNG represented at the world's leading coatings conference
TNG’s General Manager Business Development, Paul Vollant and General Manager TiO2, Philippe Guillemaille attended the Chinacoat fair in Guangzhou, China from December 4th to 6th, 2018.
Chinacoat is the world’s largest fair for the coatings industry which will represent the main market for TNG’s TiO2 product.
TNG’s representation at Chinacoat is key for “pre-marketing” its products to end users and build awareness ahead of production and during the development phase of the Mount Peake project.
|22 November 2018||
New record high for vanadium in Europe
Metal Bulletin reports that continued supply tightness lead European vanadium prices to new record highs. European Ferro-Vanadium price went up to $126-128 per kg, a record high according to Fastmarkets’ historical data going back to 1997.
“There is hardly anything... available in the spot market, and those that have material are few in number. Options are quite limited if you need material,” a supplier source stated.
In China, prices were even higher at $130-140 per kg and have remained stable for the fifth consecutive week as the overseas market is catching up.
A new government policy implemented on November 1st requires steel mills to increase their use of Ferro-vanadium in rebars has so far driven less demand than expected. This is due to annual maintenance on furnaces in early November as well as some steelmakers having not yet implemented the policy strictly.
“I heard that some mills had not increased their use of ferro-vanadium in the rebar-making process for the sake of saving costs, but I do not think this is a healthy way to develop as they might [lose] more once [that is] detected by the relevant watchdog,” a source said.
In the US, prices tracked the global markets as ferro-vanadium increased to $55.5-57 per lb.
“There is not a lot going on with vanadium in the spot market at this point. The market has really slowed down, but prices haven’t,” a supplier source said. “Only a few guys have anything to offer out, so you still have to pay up if you need it.”
|21 November 2018||
New Mine a Step Closer
The NT Government today granted a Mineral Lease for the new Mount Peake mine in Central Australia, which has the potential to create hundreds of jobs.
Creating Jobs: Mineral Lease Granted for new Mount Peake mine
Minister for Primary Industry and Resources, Ken Vowles, has today granted a mineral lease for the new Mount Peake mine in central Australia, a project granted Major Project status by the Territory Labor Government. TNG Limited’s Mount Peake mine has the potential to create 500 jobs during construction and 175-250 ongoing roles during operation. The Mount Peake mine has completed the NT Environmental Impact Assessment process and has also received Federal Government environmental approval under the Environment Protection and Biodiversity Conservation Act 1999 (Cth). Subject to further operational approvals, TNG aims to begin construction of the new mine next year. The project has an estimated life expectancy of 17 years, following a two-year construction period. The new mine will produce a vanadium, titanium and iron concentrate that TNG intends to transport by rail to a proposed new metals processing facility being planned for the Middle Arm Industrial Precinct in Darwin. Subject to approvals, TNG expects construction of the refinery to begin in 2020.
Quotes from Minister for Primary Industry and Resources, Ken Vowles:
“The Territory Labor Government’s number one priority is creating local jobs.
“TNG’s new mine will create new, direct jobs for Territorians, as well as create flow-on effects for Territory business by providing opportunities for new contracts and new tenders.
“TNG has also signed a Native Title Agreement, so benefits from the new mine will flow back to the native title holders and the local community.
“The progress in the development of this new mine shows the Territory is a great place to invest, to work, and to do business.”
Quotes from Member for Stuart, Scott McConnell:
“This is a significant milestone for the Mount Peake project, a milestone that takes us another step towards creating more jobs for Territorians.
“Employment options can be few and far between in the more remote areas of the NT, which makes projects like this so important for central Australia.”
Quotes from TNG Limited Managing Director, Paul Burton:
“We are rapidly ticking off the boxes towards the Mount Peake development, with key announcements over the past few months, including the signing of a Native Title Agreement and the formal award of the Mount Peake Mineral Leases by the NT Government.
“With these important milestones now complete, and subject to finance, this will now lead to a significant project going into production in the NT with long-term employment opportunities.”
|13 November 2018|
|5 November 2018||
TiO2 leading publication, Industrial Minerals, reports on TNG and DKSH offtake
By William Clarke, Market Reporter – Fastmarkets / Industrial Minerals Published: Tuesday, 30 October 2018
Titanium dioxide junior TNG has signed an offtake deal for its planned Mount Peake project with Swiss trader DKSH, the Australian company announced on Tuesday October 30.
DKSH will handle all distribution, including logistics and marketing, for TNG’s titanium dioxide production, which is an unusual arrangement for a major pigment producer.
DKSH will purchase as much as 100% of TiO2 output over the entire life of the Mount Peake mine in Australia, on an fob basis, for global distribution. It plans to begin marketing the material to potential buyers in 2020, with full production expected in the first half of 2021.
Fastmarkets’ price assessment for TiO2 pigment, high quality, bulk volume, cfr
TNG already has binding life-of-mine offtake agreements in place for its vanadium production with South Korean group Woojin, while global trader Gunvor will take its iron production.
TNG plans to produce titanium dioxide at its own facility in Australia’s Northern Territory. This titanium dioxide material will be unusual in that it will not be produced from ilmenite or rutile ore. Instead, the company will process titanomagnetite via a proprietary hydrometallurgical process, removing iron and vanadium from the ore.
General manager Phillippe Guillemaille told Fastmarkets that the process would leave just 2% iron in the feedstock, which TNG is calling TiVan.
As a result, this feedstock can be processed in a manner similar to conventional sulfate-route titanium dioxide production. But Guillemaille said that the product offered whiteness comparable to that achieved with chloride-route titanium dioxide.
Although all TiVan feedstock produced at the site will be processed in-house, and sold via DKSH, Guillemaille noted that the process could be applied to other titanomagnetite resources globally.rutile concentrate, min 95% TiO2, bagged, fob Australia was $1,050-1,300 per tonne on October 25, compared with $770-850 per tonne a year before.
|1 November 2018||
Vanadium prices keep rising in Europe and US but still lag behind China
Metal Bulletin reports that vanadium prices continued their upward trend globally with increases between 3% to 5% in Europe and the US. Chinese export prices remained at high levels with offers reported at US$130-140/kg for Ferro Vanadium and US$31-33/lb for Vanadium Pentoxide.
“We are not worrying about the current situation because we know it is hard for foreign buyers to accept [our] prices, especially when the overseas market has lagged far behind the Chinese market. If no foreign buyers come to us, we will sell domestically,” a Chinese trader said.
“The market is definitely still bullish because most traders were rejecting low bids, and there were quite a few sniffing around,” a European supplier source said.
“There are only so many people with material, so when inquiries come out, there isn’t any pressure to offer aggressively. We have been able to steadily increase prices with each passing week,” a US supplier source said.
|30 October 2018|
|18 October 2018||
Vanadium prices soar in China and set to break new 13 years record in Europe
Metal Bulletin reports that strong vanadium demand in anticipation to the new rebar regulation coming into force in November this year in China has accelerated the recent price increase. Prices were reported at US$115/kg last week compared to US$107/kg a week earlier, a 7.5% increase.
“Domestic consumers and rebar mills are stockpiling and [transaction] prices keep increasing. Exporters prefer to sell in [the] domestic market owing to favorable prices as the uptrend in [the] overseas market [has] lagged behind China,” an exporter/trader of ferro-vanadium said.
“Our offers will be around $140 [per kg] based on domestic levels, and I know it is hard to accept for foreign buyers but we will not sell at low levels,” the same exporter said.
In Europe, prices are yet steady, with a modest 1% increase last week but industry participants expects the recent price move in China to have an impact in the near future.
“It seems as though consumers are holding off for a second to digest the recent big price moves,” a supplier source said.
“If you can find a number from China right now, it is going to be a big one. And that is only if you can find one because they really aren’t offering much if at all for export. They need everything they can get,” another supplier source said.
In the US prices have been tracking the overseas market and stock levels are low. Market participants expect prices to continue to climb in step with the global markets.
|27 September 2018|
|27 September 2018|
|25 September 2018||
Ferro-Vanadium crosses the US$100 mark for the first time since 2005
Metal Bulletin reports that low inventories have pushed vanadium prices to new highs last week. Market participants are concerned about the ongoing supply/demand tightness and there seems to be no easing of the situation in sight. Large buyers have begun long term contract negotiations earlier this year to make sure they can secure volumes for 2019.
“Outside of China, Asia is completely dry, and they are having to pay up for material since they are unable to get anything from China at the moment” a European vanadium supplier said.
“Many market participants are coming out of their holes now - especially traders - looking for material. They are very short, and short on options for restocking” a European supplier said.
“A few large buyers are already in the market to start negotiations for next year’s contracts. They want to get out ahead and secure material as soon as possible to ensure they are covered” another supplier told Metal Bulletin.
|11 September 2018|
|11 September 2018||
Vanadium prices climb to multiyear highs
Metal Bulletin reports that last week vanadium prices in Europe surged to new 10-year highs on low product availability and increased demand. Prices for European ferro-vanadium rose to $84.50-85.20 per kg on September 7, up from $80.20-81.20 a week earlier.
“Traders ran themselves dry throughout the summer and now they want to buy back in, but they have to pay premium prices to do so,” a supplier source explained.
In China, prices went up also on the back of solid domestic demand while exports are still limited with many buyers outside China still not back from holidays.
“The domestic market saw increased trading activity from some steel mills and market players are largely optimistic about the market outlook supported by the increased demand from rebar producers [due to China’s revision to standards of tensile strength in rebar products],” a Chinese exporter added.
|22 August 2018|
|13 August 2018|
|19 July 2018||
Vanadium market continues its rise
Metal Bulletin reports that vanadium prices continued to rise on the back of a strong Chinese market. In China prices for V2O5 jumped to $18.50-19 per Ib on July 5, from $18-18.75 a week earlier. In Europe prices stood at $18.90-19.85 per lb, up 3.3% from $18.50-19 per lb a week earlier.
“Supply of V2O5 is still tight [in China] and few exporters can provide spot cargoes, so offers are ranging widely,” a V2O5 exporter told Metal Bulletin.
“There is still plenty of room for this to run. The lack of liquidity in the market has slowed the price movement down, but it will pick up again once some more inquiries are booked. The market is incredibly tight right now,” a supplier source told AMM (Metal Bulletin US affiliate)
|11 July 2018||
Further increase in vanadium prices
Metal Bulletin reports Vanadium prices have seen a further strong increase this week due to short supply and a bullish Chinese market. In China prices for V2O5 jumped 7% to $18-18.75 per Ib on July 5, from $16.70-17.65 per lb in the end of June.
“Supply for domestic V2O5 is still tight and prices keep rising in China. Some exporters have adjusted their export offers to $19-19.50 [per lb], but mainstream prices are in a range of $18-18.75 and few deals were heard,” a V2O5 exporter told Metal Bulletin.
“We are pushing our offers in line with Chinese prices, which are the highest in the world right now. If you believe the world needs Chinese vanadium (China accounts for about 50% of the world’s vanadium production – TNG), then European prices should reach Chinese levels,” a European source said.
“I went to Chinese suppliers looking for material, but the lowest offer I could find at this point was $19.50 [per lb]. Some producers have stopped production and there are new inspections going on. Supply is quite hard to find,” a trader source explained.
“There are only a few guys who even have ferro-vanadium anymore, so prices are running quickly here” a US source told AMM (Metal Bulletin affiliate).
|4 July 2018||
Vanadium prices surge
Metal Bulletin reports Vanadium prices rose again strongly last week due to continued concerns on product availability. Chinese vanadium pentoxide went up to $16.70-17.65/lb, a 10% increase of 9.7% from the previous week’s range.
"We’re basically sold out. There is a lack of material, especially V2O5, and China is not willing to offer," a European distributor said.
"We’ve had other suppliers trying to purchase from us, but we have declined. I think they are having some trouble keeping up with demand," a US-based supplier source explained.
"Reports from China have inventories running very low. There are major furnaces down, and total capacity is off around 13%. Demand is also strong because of the enhanced rebar standards,” a supplier source said to AMM.
“The price does not seem to be slowing down any and with the current price in China, it appears to still have some room to run," another supplier source stated.
|15 June 2018||
How a global hunt for vanadium may increase titanium supply
By Cameron Perks
What do mineral exploration companies Chalice Gold Mines, King River Copper, Technology Metals Australia, Vanadium Corp, Australian Vanadium, Six Sigma Metals, Tando Resources, TNG Ltd as well as lithium-miner Neometals all have in common? All of these companies are searching for vanadium, a now sought-after mineral used in vanadium redox batteries (VRBs).
According to the United States Geological Survey (USGS), vanadium is traditionally used in steel alloy production and is predominantly mined in China, but also in South Africa, Russia and Brazil. As a consequence of the US' import dependence, the USGS named vanadium on its final list of critical minerals, announced on May 18.
The VRB sector is expanding thanks to its wide range of energy applications. Their large storage capacity and high cycle performance and durability make these batteries particularly suitable for grid and large scale industrial and residential uses.
Another mineral that all of these companies have in common is titanium. This is because geologically speaking, vanadium and titanium commonly occur together in anorthositic, mafic to ultramafic rocks and are often referred to as vanadiferous titanomagnetite (VTM) deposits.
Recent market announcements, explored below, revealed that investors, explorers and miners are actively seeking to become the next vanadium producers, and therefore, also the next titanium producers.
These companies are flying under the radar in terms of titanium, due to their battery-industry focus. Of these companies, the most advanced projects are held by Australia Securities Exchange (ASX)-listed companies Neometals Ltd and TNG Ltd.
On May 8, Neometals, an established lithium producer, reported that its Western Australia-located titanium-vanadium Barrambie direct shipping ore (DSO) project was the subject of bulk-sampling and test work.
The company's titanium feedstock has been confirmed to be suitable for high-purity (>99%) titanium dioxide production, and can be precipitated selectively from a leach solution at recoveries greater than 90%. Barrambie's Eastern Band made a total mineral resource for Barrambie is estimated to be 280.1 million tonnes at 9.18% titanium dioxide and 0.44% vanadium pentoxide.
Elsewhere, TNG's Australian Northern Territory Mount Peake Vanadium-Titanium Iron Project was awarded federal environmental approval on May 15 of this year. The project, which contains 160 million tonnes of 5.31% titanium dioxide and 0.28% vanadium pentoxide as part of its resource (as of 2013), will now need a mine management plan in order to proceed to a stage where offtake, funding and construction may proceed.
A long list of early to mid-stage explorers also exist, and while they are a long way from production, present another potential source of titanium in the long term.
ASX-listed explorer Tando Resources commenced exploration on May 21 on its South African high-grade vanadium project, after acquiring it from Vanadium Resources Ltd on March 22.
The company's preliminary estimates on a concentrate indicate grades of 2% vanadium pentoxide and 13% titanium dioxide.
Likewise, ASX-listed explorer Chalice Gold Mines announced on May 23 that it had applied for a number of vanadium focused exploration licenses in Queensland and Western Australia. The company notes that the areas are "highly prospective" for nickel, copper platinum group elements and titanium.
Another Australia-based ASX-listed explorer, Six Sigma Metals, has recently agreed to acquire "highly prospective" vanadium-titanium and lithium assets located in Zimbabwe from Mirrorplex Ltd. The announcement, made on May 17, said that the acquisition was part of a strategy to "capitalize on the rising interest in the sector due to recent global [battery] technology advances". This company has likened its geology to that of ASX-listed Australian Vanadium's Western Australian Gabanintha deposit, as well as ASX-listed King River Copper's Western Australian Speerwah deposit.
Of these, King River Copper has conducted advanced metallurgical test work which has resulted in high purity titanium dioxide and vanadium pentoxide products. Australian Vanadium has also carried out test work on their project, resulting in the production of a combined concentrate yielding around 15% titanium dioxide.
In late February, ASX-listed Technology Metals Australia reported that it had recovered up to 97.8% vanadium in magnetic concentrates during metallurgical test work. While initial results focused on vanadium, early success may pave the way to future titanium production at this deposit, which contains 9.7% titanium dioxide.
Despite these companies focused on vanadium production, the potential volume of titanium dioxide that could be supplied into pigment markets is substantial.
Industrial Minerals reported prices for titanium dioxide pigment, high quality, bulk volume, cfr Asia, on May 24 at $2,800-3,100 per tonne, unchanged from the previous week. The price had been assessed at $2,720-3,100 per tonne a year earlier.
Titanium dioxide prices have been rising since early 2017 due to increased demand driven by the global economic recovery and the reduction in output due to environmental inspections in China, Industrial Minerals reported earlier in May.
While this may be the case, it remains to be seen as to whether vanadium-driven titanium dioxide production can provide any pricing relief.
|14 June 2018|
|8 June 2018|
|30 May 2018||
European vanadium prices up on tight supply
Metal Bulletin reports that European vanadium prices increased this week due to lower inventory. Prices for Ferro-vanadium was up 1.2% to $64-66 per kg, according to Metal Bulletin.
Metal Bulletin sources “suspect an increase in consumer interest will allow prices to rebound further in the near term.”
Meanwhile, export prices China were flat with low market activity. Producers seem unsure on the near term future market direction.
“Tightness in China’s domestic market continues, and I held my offers at $14.50-14.90 per Ib,” one Hubei-based producer/exporter said.
|23 March 2018|
|20 March 2018||
Chinese vanadium market follows Europe and USA with higher prices
Metal Bulletin reports that Chinese vanadium producers increased their prices significantly due to low stocks levels.
V2O5 prices are now at US$14.80-16 per lb, up by 4.2% and Ferro-Vanadium prices stood at $69-71 per kg, up by 11.1% from a week earlier on fob China basis.
In Europe and the USA, prices have stabilized after last week’s rally while further increase are expected in the near future.
“We will not accept low prices for our sales [of V2O5] as we cannot secure any low-priced material in the domestic market,” one Chinese V2O5 exporter told Metal Bulletin.
“Prices are still holding strong in both China and here in Europe. It is still a question of availability,” a European supplier source told Metal Bulletin.
|14 March 2018||
Vanadium prices continue their strong rally
Metal Bulletin reports that vanadium prices continue to surge in Europe and USA on the back of rising supply concerns.
The Chinese market is also moving up but with lower trading activity.
V2O5 prices are now at US$14-14.60/lb, almost 8% higher than last month.
"Major domestic V2O5 producers reported no cargoes to sell in spot market, and ferro-vanadium producers raised prices and are selling in small amounts. We failed to source spot material, so have had to stop quoting," a ferro-vanadium exporter said.
"Demand is very good, and there is not much material available. Prices just continue to jump up," a supplier source told Metal Bulletin.
|21 February 2018||
WA Advanced Materials
To jump straight to the article titled "Transformational year" on page 3, click here.
|15 February 2018||
USA and Europe vanadium markets strong amid lower stocks
Metal Bulletin reports that vanadium markets in Europe and USA are strengthening further due to stronger demand and continued supply concerns. V2O5 prices are now firm above US$13/lb, 6% higher than last month.
"People are very short on material right now, especially traders" a US-based supplier source said.
In China, vanadium market is slower with fewer exports quotations ahead of the Chinese New Year’s holidays.
However, a sources reckons that "the current tight supply in V2O5 is expected to persist in the next months, and the sharp demand growth (in China) may happen in the second half of the year if no additional production fills the gap".
|31 January 2018|
|19 January 2018||
Vanadium market price continue to soar
Metal Bulletin reports that Vanadium Pentoxide prices have rocketed more than 30% in China since December to US$12-13.30/lb. This is mainly due to the expectation that market might be facing a deficit in 2018 due to increased demand with the new rebar standard and feedstock constraint with the ban on slag imports. Traditionally a vanadium-exporting country, China also suffered major production disruptions in July and August 2017.
In the rest of the world, prices have followed the Chinese trend with Ferro Vanadium up 6.73% over the past week in Europe and amid low inventories being reported in the US. “It is incredible what is happening in this market right now,” a trader told Metal Bulletin.
On the energy storage side, China reportedly started construction of world’s largest battery with 800MWh capacity (equivalent of 16,000 Tesla model 3 batteries) and it is a Vanadium Redox Flow Battery!
|5 January 2018|