Ferro-Alloy Resources Limited (LON:FAR), the vanadium producer and developer of the large Balasausqandiq vanadium deposit in Southern Kazakhstan, has announced that it has entered into a non-binding offtake term sheet with LL-Resources GmbH for the sale of standard vanadium pentoxide from Phase 1 of the Balasausqandiq Project.
· The Company has entered into a non-binding offtake term sheet with LLR for sale of the entire production of standard vanadium pentoxide from Phase 1 of the Balasausqandiq Project
· The initial term will be for a period of six years commencing from the start of production, with the option for subsequent terms
· Headquartered in Graz, Austria, and founded in 2011 as a trading company, LLR has a significant presence in the global commodities sector serving more than 300 steel mills, foundries, traders and other end users. With a worldwide turnover of €550 million in 2023, LLR is a trading and producing company for a wide variety of ferro-alloys and metals, with production sites in Germany (aluminium), Sweden (ferro-titanium), Slovenia (cored wire), Latvia (ferro-vanadium / ferro-titanium), Oman (ferro-chrome) and Albania (chrome ore). Further information on LLR can be found at www.ll-resources.com
· The Company is continuing the development of its expertise in the production of other various vanadium products and has already developed the technological processes to produce high purity vanadium pentoxide, mixed vanadium oxides and vanadium electrolyte (to be produced at the Phase 1 Balasausqandiq plant in line with market demand). All of these products will be marketed separately
Commenting on the term sheet, Nick Bridgen, CEO of Ferro-Alloy Resources said:
“In LLR, we have a trading partner located in the heart of Europe and with a global reach. As we come to the final stages of our feasibility study, this will enable us to begin to negotiate the project financing with confidence in our routes to market.”
