Australian Vanadium Ltd (AVL) said on Wednesday it penned a non-binding agreement with a unit of steelmaker HBIS Group Chengsteel that could see the Chinese firm buy vanadium and invest in the Perth-based firm’s flagship project.
AVL signed a letter of intent with Hebei Yanshan Vanadium and Titanium Industry Technology Research Co Ltd that will allow both companies to negotiate a binding agreement for the sale of vanadium products.