Chinese steel maker Tianzhu Steel’s Wingsing International has signed a conditional Term Sheet for an initial 50,000 tonnes per annum of Australian Vanadium’s FeTi coproduct, with option to increase volumes after the first year. The non-binding Term Sheet extends the terms of the LoI and is the next step towards finalizing a binding offtake agreement. The FeTi coproduct will be shipped from port facilities at Geraldton.AVL plans to produce approximately 900,000 tonnes per annum of FeTi coproduct from the Australian Vanadium Project, after production of approximately 11,000 tonnes per annum of vanadium pentoxide from its proposed mine and processing facility in the Mid West region of Western Australia.Tianzhu Steel has an annual steel production of 5 million tonnes per annum from its mill in Hebei Province of China.
Chinese steel maker Tianzhu Steel’s Wingsing International has signed a conditional Term Sheet for an initial 50,000 tonnes per annum of Australian Vanadium’s FeTi coproduct, with option to increase volumes after the first year. The non-binding Term Sheet extends the terms of the LoI and is the next step towards finalizing a binding offtake agreement. The FeTi coproduct will be shipped from port facilities at Geraldton.AVL plans to produce approximately 900,000 tonnes per annum of FeTi coproduct from the Australian Vanadium Project, after production of approximately 11,000 tonnes per annum of vanadium pentoxide from its proposed mine and processing facility in the Mid West region of Western Australia.Tianzhu Steel has an annual steel production of 5 million tonnes per annum from its mill in Hebei Province of China.
