PMA precious metals australia limited

last one out turn lights off!!

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    As found in the West Australian.....

    Price fall halts vanadium mine

    THE Windimurra vanadium project, for which the State Government ploughed more than $30 million into a gas pipeline and other regional infrastructure, has been shut because of record low prices for the specialty metal.

    London-based owner Xstrata switched off Australia's only vanadium mine on Monday, less than three years after the $128 million project was commissioned.

    Xstrata subsidiary Vanadium Australia managing director Tony Simpson said the operation could be restarted if prices recovered.

    The price is $US1.70 to $1.80 a pound, or about half what was assumed in the feasibility study. The Mt Magnet operation was developed by Roderick Smith's Precious Metals Australia.

    - Michael Weir

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