FMS 0.00% 3.9¢ flinders mines limited

This..." New Zealand’s Todd Corporation has put its Balla Balla...

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    " New Zealand’s Todd Corporation has put its Balla Balla vanadium play on the block, tapping Perth-based PCF Capital to find a buyer for the $100 million-rated project.

    Billed as Australia’s biggest high-grade vanadium deposit, it is understood Todd — through its Australian subsidiary BBI Group — is chasing as much as $100m for Balla Balla, as it continues to try to find a way to make its nearby $6 billion iron ore project work.

    Back at the height of the boom, the vanadium play, then owned by Aurox Resources, which sold itself into Atlas Iron, was being variously billed as a magnetite iron ore or titanium deposit, or all three at the same time.

    Vanadium is used in steelmaking. But with shortages of high-quality vanadium looming, and with growing potential of the metal as a key component of redox batteries, BBI has repackaged it.

    An information memorandum circulated by PCF said upgraded feasibility studies were due shortly, flagging an advance in the resource to 211 million tonnes at 0.77 per cent vanadium and the potential to produce 8000 tonnes a year of vanadium pentoxide or 6000 tonnes of ferrovanadium across a 30-year mine life. "

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