Ferro-Alloy Resources Balasausqandiq feasibility study update

FAR

Ferro-Alloy Resources Limited (LON:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, has announced an update on the ongoing feasibility study into the large Balasausqandiq vanadium project.

Drilling

As previously announced, the drilling programme for Phase 1 of the Feasibility Study has been completed and an updated resource estimate for Phase 1 will be announced during Q1 2023. Similarly, the drilling programme for Phase 2 of the Feasibility Study has been completed as far as possible and the Company is assessing drilling options for a residual area of difficult topography.  

Metallurgy

Metallurgical test-work continues to advance at SGS Lakefield under the supervision of TetraTech.

Extraction of vanadium during acid leaching continues to be above expectations with 94-97% vanadium extraction into solution.  The test-work programme will also complete subsequent phases of vanadium, uranium, molybdenum and potassium alum extraction stages, and solid liquid separation tests.  

Carbon

Additional technical studies are advancing to understand and validate the potential use of the carbon-rich tailings for the production of a carbon black substitute for the making of rubber and as a feed for the production of ferro silicon.

Feasibility Study Engineering

The open pit geotechnical drilling has commenced and will continue into 2023.  The results of the drilling and subsequent mechanical testing programme will be used to confirm the open pit slope design.  In addition, a geophysical survey of the water supply bore field area is underway.  The results of the survey will be used to define the fieldwork programme required to define the water extraction bore field required to support the projects water needs. 

The open pit hydrogeology drilling is currently being contracted per the scope defined by SRK Consulting (Kazakhstan) Limited.  The drilling is expected to commence in early 2023.

Publication Timetable

As previously announced, the Company’s Feasibility Study for Phase 1 of the project (processing 1 million tonnes of ore per year) was expected to be published during the middle of 2023.

Following unscheduled delays during the course of 2022, in the main as a result of capacity issues within the mineral analysis industry, the Company now expects the Feasibility Study for Phase 1 of the project to be published during Q4 of 2023 as opposed to the middle of 2023 as previously reported.    

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Share on:
Find more news, interviews, share price & company profile here for:

Latest Company News

Ferro-Alloy Resources targets vanadium production growth at Kazakhstan project

Ferro-Alloy Resources is developing Kazakhstan's Balasausqandiq deposit, with plans to expand vanadium production through a phased mining and processing operation.

Ferro-Alloy Resources explores US rare earth supply opportunity

Ferro-Alloy Resources has signed a nonbinding MoU with Maglut Heavy Industries to assess rare earth recovery from residual solutions at its Kazakhstan vanadium project, with potential production of up to 1,000 tonnes of mixed rare earth concentrate annually.

Vanadium alloy demand supported by steel and energy storage

Vanadium alloy demand is supported by established steel and construction applications, while energy storage and advanced manufacturing provide additional areas for potential growth.

Ferro-Alloy Resources raises £4.68m to repay bonds and advance vanadium project

Ferro-Alloy Resources Limited (LSE:FAR) has raised £4.68m through a share placing led by strategic investor Vision Blue Resources, which has increased its stake to 26.24%. The proceeds will repay the remaining bonds due in 2026 and support working capital and development of the company’s rare earth elements strategy.

Ferro-Alloy Resources advances Balasausqandiq project as H1 loss narrows

Ferro-Alloy Resources made continued progress towards Balasausqandiq production in H1 2026, with its loss narrowing to US$3.2m and new funding secured to support the next phase of development.

Ferro-Alloy Resources signs MoU with Maglut for rare earth supply

Ferro-Alloy Resources has signed a non-binding MoU with US rare earths company Maglut to explore the supply of mixed rare earth concentrate from its Balasausqandiq vanadium project in Kazakhstan. Initial tests achieved recoveries of up to 91.4% and purities above 99.999% for selected REEs, with further technical and economic work planned.

Search