ASX-listed Technology Metals Australia has inked a binding vanadium pentoxide offtake agreement with China’s CNMC Orient Group Company at the Ganabintha vanadium project, in Western Australia.
The offtake agreement covers a minimum 2 000 t/y, or 4.4-million pounds of vanadium pentoxide on a take-or-pay basis over an initial three year term, accounting for some 16% of Gabanintha’s forecast annual production. CNMC will also have the option to extend the offtake agreement by a further three years.