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American vanadium designs higher value vanadium product line - Titanium Alloy Wire by e55he swrzsnb
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American vanadium designs higher value vanadium product line - Titanium Alloy Wire by E55HE SWRZSNB
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| Article Posted: 07/12/2013 |
| Article Views: 95 |
| Articles Written: 2033 - MORE ARTICLES FROM THIS AUTHOR |
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American vanadium designs higher value vanadium product line - Titanium Alloy Wire |
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Business,Business News,Business Opportunities
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Gibellini Mine to Produce Vanadium Products for Aerospace, Chemicaland Grid Scale Energy Storage Industries VANCOUVER, British Columbia--( BUSINESS WIRE ) - AMERICAN VANADIUM CORP. ("American Vanadium" or the"Company") (TSX.V: AVC) (OTCQX: AVCVF) announces thatthe Company is engineering its process to include the production ofhigher valued vanadium products for the premium chemical andtitanium alloying industries without increasing capital oroperating costs. This decision is based on recent laboratorytesting demonstrating the ability to produce high purity vanadiumat its Gibellini Project located in Nevada. As the Company continues to make progress with the permittingprocess and detailed engineering design of the Gibellini Project,the Company will focus on producing vanadium electrolyte, powders,crystals and oxide pellets for premium markets such as grid scaleflow battery systems, chemical and pollution control applicationsas well as for the aerospace and defense industry. "As we develop the only domestic vanadium mine, ouroverriding corporate objective remains to build the vanadium flowbattery business in the US through partnerships with globaltechnology leaders," said Bill Radvak, President and CEO ofAmerican Vanadium.
"As the energy storage industry grows over time, it willconsume an ever increasing percentage of our product mix asvanadium electrolyte. In the meantime, we can now increase project profitability bydirecting our product line towards other higher margin productsrather than simply selling 'purple flake' to the steelindustry." The US currently imports 100% of its raw vanadium products for usein the critical aerospace and chemical industries. The productscome from countries such as Venezuela, Mexico, China and SouthAfrica. Fifteen percent of the total vanadium consumption in the US(31 million pounds vanadium pentoxide equivalent per year) isconsumed by the aerospace industry in the way of titanium vanadiumaluminum alloys, while a further six percent is used in thechemical industry for critical products such as catalyticconverters, sulphuric acid catalyst, etc.
The Gibellini Mine isbeing designed to produce over 11 million pounds of vanadiumpentoxide equivalent per year. About American Vanadium Corp. American Vanadium is developing the only vanadium mine in theUnited States. The Company"s Gibellini Project, located inNevada, is being designed to economically produce vanadium productsfor the steel and alloying industries, as well as vanadiumelectrolyte for the energy storage industry. This strategic assetgives American Vanadium the opportunity to vertically integrateinto the highest value market, Micro Grid Energy Storage.
Apositive Feasibility Study and updated National Instrument 43-101on the Gibellini Project were completed by AMEC E&C Services in2011. ON BEHALF OF THE BOARD Bill Radvak, President and CEO NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER(AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE)ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THISRELEASE. Forward-Looking Statements: This press release contains"forward-looking information" within the meaning ofapplicable Canadian securities laws, including statements regardingthe expected use of proceeds from the Private Placement, and futureplans and objectives for the Gibellini Project. Suchforward-looking statements involve known and unknown risks,uncertainties and other factors, which may cause the actualresults, performance or achievements of American Vanadium to bematerially different from any future results, performance orachievements expressed or implied by the forward-lookinginformation.
Forward-looking information includes estimates of mineproduction rates and mine life, revenues from future miningoperations, capital and operating costs, and pay-back period. Factors that may cause actual results to vary include, but are notlimited to, actual results of current exploration activities;conclusions of economic evaluations; changes in project parametersas plans continue to be refined; future prices of vanadium;possible variations in reserves, grade or recovery rates; changesto capital and operating cost estimate, delays in obtaininggovernmental approvals or financing or in the completion ofdevelopment or construction activities. Although American Vanadiumhas attempted to identify important factors that could cause actualresults to differ materially from those contained inforward-looking statements, there may be other factors that causeresults not to be as anticipated, estimated or intended. There canbe no assurance that such statements will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should notplace undue reliance on forward-looking statements.
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