NetworkNewsWire
Editorial Coverage: The move towards the adoption of electric
vehicles (EV’s) along with solar and wind power generation has
sparked interest in what could become the next super metal:
vanadium. The United States doesn’t currently produce vanadium;
however, United Battery Metals (OTC: UBMCF) (CSE: UBM)
(FWB: 0UL) (Profile) is in development of a world-class
vanadium resource in Colorado. The vanadium redox battery (VRB) is
a potentially revolutionary way to store energy, and major miners
such as Largo Resources (TSX: LGO) (OTC: LGORF)
may not be able to react quickly enough to offset the potential
spike in vanadium demand. The adoption of VRB technology could
provide a catalyst for the vanadium industry, a positive for
companies such as Prophecy Development Corp. (TSX: PCY)
(OTC: PRPCF), Vanadium One Energy Corp. (TSX.V:
VONE),and First Vanadium Corp. (TSX.V: FVAN) (OTC:
CCCCF), which are eager to serve this growing
marketplace.
To view an infographic of this editorial, click here.
Critical to Security
The Department of the Interior deemed vanadium as one of the
commodities considered critical to the economic and national
security of the United States. This recognition is a result of
President Donald J. Trump's executive order to break America's
dependence on foreign minerals.
President Trump has moved relentlessly against China on trade
policy, a country that happens to be the global leader in vanadium
production by a wide margin. Without Chinese vanadium to depend on,
the United Battery
Metals' (OTC: UBMCF) (CSE: UBM) Wray Mesa, Colorado,
project could help the US develop its own domestic vanadium supply.
The price of V2O5 vanadium pentoxide flake 98 percent, a common
form of vanadium, has increased
significantly over the last three years.
The global shift toward EVs is growing stronger. According to
Forbes, China is subsidizing the purchase price
of an EV by as much as $10,000 per vehicle. Beijing wants to curb
its dependency on dirty fuel sources, which has required the
government to slash the number of new vehicle registrations allowed
in Beijing this year from 150,000 to just 100,000. Of those
100,000, 60 percent must be an EV.
Vanadium redox batteries offer a potentially game-changing
solution for stationary storage units and charging stations. Unlike
lithium-ion batteries, VRBs can be charged and discharged
simultaneously, allowing up to 50 vehicles to connect to VRB
charging stations at the same time. This means the trend towards
EVs could require significant amounts of vanadium in the form of
charging infrastructure to provide energy to these new
vehicles.
Until recently the steel industry used the majority of the
vanadium supply as an additive to strengthen steel. Demand in the
steel industry continues to grow, thanks in part to the current
administration’s support of domestic steel production, which has
caused companies such as US Steel to open new facilities and cancel
plant closures nationwide. Now it looks like vanadium could be
vital for cutting-edge battery technology in addition to being a
steel additive. There are currently no active vanadium producers in
the United States, meaning United Battery Metals could have a head
start in development, thanks to its 3,000-acre land package in Wray
Mesa.
In addition to the steel industry and car charging stations,
VRB’s could play a critical role in grid power storage. Solar and
wind power nationwide is a burgeoning industry that is growing
exponentially with a shift to clean energy solutions. California
has recently announced that by 2020 all homes and mid-rises will be
required to install solar panels. It is here that VRBs can play a
part. The ability to store power from low-usage periods and spill
it back into the grid during peak demand periods makes VRB’s a far
superior choice for large-scale energy storage than lithium-ion
batteries. Experts predict that it is just a matter of time before
this law will be adopted nationwide. Regulations such as these
could become a big driver for vanadium demand in the United States,
a country in desperate need of a domestic resource.
Growing Pressure on Battery Infrastructure
EV’s offer society an incredible transportation option that
could drastically reduce carbon emissions. As the shift towards
EV’s continues, a new network of charging stations could be
necessary to provide the vehicles with electricity. With multiple
governments already moving to regulate internal combustion engine
vehicles, the move towards electric transportation has already
begun, meaning the race is on to create the energy infrastructure
necessary to support these new electric vehicles.
The electric vehicle revolution has required massive amounts of
lithium to produce the lithium-ion batteries found in EV’s such as
the Tesla. However, the next battery revolution could be built on a
different resource altogether. As energy demands grow and the
lithium-ion battery becomes as common as the lightbulb, new sources
of energy have the potential to become the backbone of the next
battery industry. In the case of vanadium, the unique properties of
the metal have enabled new means of electric storage, which could
greatly benefit vanadium miners such as UBM.
Vanadium: Enabling the Energy Storage
Revolution
Vanadium redox batteries offer unique advantages that no other
battery can match. Unlike lithium-ion batteries, VRB’s don't heat
up when in use, and they can be charged and discharged at the same
time. Today VRB’s are being developed to work in conjunction with
renewable power sources and EV’s.
Unfortunately, there isn't currently enough vanadium in
production to meet growing demand. For United Battery Metals, the
vanadium supply crunch in the United States offers a potentially
lucrative opportunity. The company has a large land package in a
politically stable jurisdiction, and its Wray Mesa project has the
potential to become the lone vanadium producer in the country.
VRB’s also solve a common problem for sustainable power sources,
offering an almost perfect solution for storing power at stationary
power stations. They offer a long service life and can be recycled
when they need to be replaced. VRB’s can also charge and discharge
simultaneously, meaning a VRB-based power station could be capable
of charging itself through the grid while also providing energy to
vehicles or other devices.
According to Forbes, the
number of EV’s sold globally is expected to increase from 1.2
million in 2017 to 2 million in 2019. This trend could also greatly
benefit vanadium miners such as United Battery Metals, which are
capable of providing enough of the super metal necessary to
jumpstart the next battery revolution.
A Head Start in the Race to Vanadium
Production
United Battery Metals could be in a prime position to meet US
demand with its wholly controlled Wray Mesa project in the UraVan
district of Colorado. This year the USGS added
vanadium to its list of strategic elements, meaning the Wray Mesa
project could become incredibly important to the United States and
its national interests as the country focuses on developing its own
domestic resources.
Wray Mesa has a chance to become the next major source of
vanadium in the United States. According to a 43-101 prepared in 2013, Wray Mesa is sitting on an
estimated resource of 2,640,000 pounds of vanadium. The property is
also close to the town of La Salle, which has access to established
roads, and municipal water only six miles away.
With a global scramble to lock down large amounts of high-grade
vanadium taking place, UBM could be in an optimal position to
capitalize on the trend. The UruVan district has a history of
producing both uranium and vanadium, with a number of small
mom-and-pop mines populating the area. Colorado is also a
mining-friendly jurisdiction with a solid track record of
protecting resource investments.
United Battery Metals has put together a land package that has
an estimated resource of more than 2.6 million pounds of vanadium;
However, the resource model the company used is based on
exploration results that likely understated the resource. Very
little modern drill work has been undertaken in the UruVan
district, meaning there could be a lot more vanadium waiting to be
found during exploration.
Most of the elements that will drive the shift away from
carbon-heavy power are in short supply. Metals such as vanadium and
cobalt have been an afterthought to industry for decades; however,
lately the price of these vital elements has been exploding.
Others in the Vanadium Space
Prophecy Development Corp. (TSX: PCY) (OTC:
PRPCF) owns the Gibellini project in Nevada, which is one
of the only large-scale, open-pit vanadium projects of its kind in
North America. The project is currently undergoing EPCM and EIS
preparation and could be the right project at the right time.
Vanadium One Energy Corp. (TSX.V: VONE) is a
mineral exploration company whose mandate is to acquire vanadium
and manganese mineral projects within North America. The company
plans to define the economic potential of its properties, define
end markets, and process and refine raw materials onsite to create
a closed-loop supply chain with end users.
Largo Resources (TSX: LGO) (OTC: LGORF) is a
strategic mineral company focused on the product of vanadium flake,
high-purity vanadium flake, and high-purity vanadium powder. One of
the lowest cost producers of V205, the company currently operates
the Maracás Menchen Mine in Brazil, an open pit mine that boasts
consistent, robust production rates.
First Vanadium Corp. (TSX.V: FVAN) (OTC: CCCCF)
is another mining company developing projects in North America. The
company is working to catch up with vanadium demand through its
Carlin project in Nevada. The Carlin project was originally
discovered by Union Carbide Corp. in the 1960s, including 127
rotary drill holes that have systematically defined near surface
shallow dipping deposits. First Vanadium is also exploring a copper
project just outside of Jerome, Arizona.
For more information on UBM,
visit United Battery
Metals Corp. (CSE: UBM) (OTC: UBMCF) (FWB: 0UL)
Please also read and review and the following article: Why Every Investor Should Learn the Word ‘Vanadium’ Before
It’s Too Late
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