Call for Vanadium deposit exploration to bring down supply-demand curve
While the need for Vanadium intensifies over the years, as seen in the 45% increase in its demand in 2020, the shortage in its known deposits gatekeeps the supply chain into fully utilizing its promising properties in defense and steelmaking, aerospace, nuclear power, and potential long term energy storage for grid-scale electricity. Only three countries, namely South Africa, China, and Russia, have control in the supply chain of this metal, making Vanadium be classified as a critical strategic metal on the rest of the world since its lack of availability during a national emergency would affect the economic and defensive capabilities of the countries.
This status quo calls for the exploration of new Vanadium mines that can be sources of vanadium pentoxide and ferrovanadium. With this, as one of the main drivers of the StrategX Elements Corporation, its projects will help reduce the supply and demand curve to such an extent that the price of the metals is attractive for both producers and consumers while ensuring that its supply suffices the global demand of the emerging green technology industry.
Reference:
"Vanadium: The Metal We Can’t Do Without and Don’t Produce". 2022. MINING.COM. (https://bit.ly/3sQCjh1)