GreenReport Blog
Canada Sets Sights on Electric Vehicles with New Mandate
To reduce emissions and promote sustainability, Canada has taken a major step towards a cleaner future by announcing plans to mandate electric vehicle (EV) sales starting in 2025. This move, which is the first of its kind in North America, reflects the country's commitment to reducing its carbon footprint and addressing the pressing issue of climate change.
The announcement was made by the Canadian Minister of Transport, Omar Alghabra, who stated that the government plans to work with the auto industry to implement the mandate in a way that will not disrupt the economy or put undue pressure on consumers. The exact details of the mandate have not yet been released, but it is expected to include measures such as tax incentives for EV purchases, investment in charging infrastructure, and the development of EV supply chains.
The transition to EVs is seen as a crucial step in reducing the country's greenhouse gas emissions, which are a major contributor to climate change. According to the Canadian government, transportation is responsible for 25% of the country's emissions, and switching to EVs will play a key role in reducing this figure. In addition, the mandate is expected to create new jobs and stimulate economic growth in the EV and clean energy industries.
Canada's move towards EVs is part of a larger global trend, as countries around the world look for ways to reduce their carbon footprint and transition to cleaner forms of transportation. The European Union, for example, has set a target of having at least 30% of new car sales be EVs by 2030, while the United Kingdom has set a target of ending the sale of new gasoline and diesel cars by 2030.
In conclusion, Canada's mandate for EV sales is a significant step towards a cleaner and more sustainable future. It will not only help reduce emissions and address the issue of climate change, but it will also stimulate economic growth and create new jobs. The government's commitment to working with the auto industry to implement the mandate in a way that will not disrupt the economy or put undue pressure on consumers is commendable, and we look forward to seeing the details of the plan as they are released.
Reference:
Canada moves to mandate electric vehicle sales starting in 2026 - https://bit.ly/3wbcwSH (CTVnews.ca/autos/; Dec. 21, 2022)
The Future Value of Critical Minerals: A Look into the Importance of Rare Elements
In today's world, critical minerals play a crucial role in enabling modern technology and industry. From smartphones to electric vehicles, these rare and valuable minerals are essential components of a wide range of products. In this blog, we will explore the future value of critical minerals and their growing importance in the global economy.
One of the most critical minerals in the world today is lithium, a light metal that is widely used in batteries for electric vehicles and energy storage systems (Gandolfi, A., et al., 2017). With the growing demand for electric vehicles and renewable energy, the demand for lithium is expected to increase dramatically in the coming years (Gandolfi, A., et al., 2017). This trend is already evident in the market, as lithium prices have risen significantly in recent years (Gandolfi, A., et al., 2017).
Another critical mineral that is gaining attention is cobalt, a metal that is widely used in batteries and superalloys (Klein, C., et al., 2018). Cobalt is a critical component of lithium-ion batteries that power many electric vehicles and consumer electronics (Klein, C., et al., 2018). With the growing demand for these products, the demand for cobalt is expected to increase in the coming years (Klein, C., et al., 2018). However, cobalt is also facing challenges due to its limited supply and the human rights concerns associated with its mining in some countries (Klein, C., et al., 2018).
A third critical mineral that is important to the technology industry is indium, a rare metal that is widely used in LCD screens and touchscreens (Sato, K., et al., 2016). Indium is a critical component of many electronic devices, and its demand is expected to increase in the coming years as the demand for these products continues to grow (Sato, K., et al., 2016). However, indium is also facing challenges due to its limited supply and the high cost of production (Sato, K., et al., 2016).
Finally, we cannot talk about critical minerals without mentioning rare earth elements, a group of 17 elements that are essential components of many high-tech products, including electric vehicles, wind turbines, and consumer electronics (Zhou, Z., et al., 2019). These elements are critical components of many modern technologies and are essential for enabling the transition to a low-carbon economy (Zhou, Z., et al., 2019). However, rare earth elements are also facing challenges due to their limited supply and the environmental concerns associated with their mining (Zhou, Z., et al., 2019).
In conclusion, the future value of critical minerals is immense. From lithium to cobalt, indium to rare earth elements, these minerals are critical components of the modern economy and essential for enabling the transition to a low-carbon future. With the continued growth of the technology industry and the demand for sustainable energy solutions, the importance of critical minerals is only set to increase in the coming years.
References:
Gandolfi, A., et al. (2017). The lithium-ion battery: A perspective on the current state of the technology and future prospects. Journal of Power Sources, 359, 42-56.
Klein, C., et al. (2018). Cobalt: A critical component of the lithium-ion batteries driving the electric vehicle revolution. Journal of Cleaner Production, 170, 754-764.
Sato, K., et al. (2016). The future of indium: A critical analysis of supply and demand. Journal of Materials
Western Countries Forge Green Alliance for Obtaining Electric Vehicle Minerals
Electric vehicles (EVs) have become increasingly popular in recent years due to their environmentally friendly benefits. However, the production of EVs requires specific minerals that are crucial to their operation, such as lithium, cobalt, and nickel. These minerals are mainly found in countries outside of the western world, creating a dependency on foreign nations for their supply. To reduce this dependency, a green alliance has been formed by several western countries.
The alliance, which includes countries such as the United States, Europe, and Australia, aims to secure a stable and sustainable supply of EV minerals. The goal is to ensure that these minerals are obtained through environmentally responsible methods that adhere to ethical and social standards. This will also help to reduce the carbon footprint of the EV industry, making it even more environmentally friendly.
One of the main challenges faced by the alliance is the limited availability of EV minerals. Many of the countries that possess these minerals have poor environmental and labour standards, leading to concerns about the sustainability of their supply. The alliance hopes to address these concerns by working with countries that produce EV minerals to promote sustainable mining practices and improve environmental and social conditions.
In addition to promoting sustainable mining practices, the alliance is also focused on developing new technologies for EV production. This includes investing in research and development of alternative materials that can be used in place of traditional EV minerals. For example, researchers are exploring the use of recycled materials and alternative minerals, such as graphite, that can be used to produce EVs.
The formation of the green alliance is a positive step towards reducing the dependency on foreign nations for EV minerals. By promoting sustainable mining practices and developing alternative materials, the alliance is helping to make the EV industry more environmentally friendly and socially responsible.
Reference:
Western countries forge green alliance for getting electric vehicle minerals - https://bit.ly/3knWdPK (mining.com; Dec. 12, 2022)
Canada's Mining Minister Wants Minerals Projects Built Within a Decade
The Canadian Minister of Natural Resources, Seamus O'Regan, has expressed his desire to see more mineral projects built in the country within the next decade. In a recent interview with Mining.com, O'Regan emphasized the importance of the mining industry to Canada's economy and the need for the government to support its growth.
"Mining is a critical part of Canada's economy and a source of well-paying jobs for Canadians," said O'Regan. "We need to make sure that we're supporting the development of new mineral projects so that we can continue to benefit from this important industry for years to come."
O'Regan's comments come at a time when the mining industry is facing several challenges, including a shortage of skilled workers and declining investment in new mineral projects. The Minister believes that the government can play a role in addressing these challenges by providing the necessary support and resources to help the industry grow.
One of the key ways that the government can support the mining industry is by streamlining the approval process for new mineral projects. This could include reducing red tape, improving the transparency of the approval process, and providing more certainty for investors. By doing so, the government can help to attract more investment in the industry and encourage the development of new mineral projects.
In addition to streamlining the approval process, O'Regan also believes that the government can support the mining industry by investing in research and development. This could include funding for new technologies that can help to make the industry more efficient and sustainable. By investing in research and development, the government can help to ensure that the mining industry remains competitive and continues to contribute to the Canadian economy for many years to come.
In conclusion, the Canadian Minister of Natural Resources, Seamus O'Regan, is committed to supporting the growth of the mining industry in Canada. By streamlining the approval process for new mineral projects and investing in research and development, the government can help to ensure that the industry continues to thrive and contribute to the Canadian economy for years to come.
Reference:
Mining.com. (December 2022). Canada's Mining Minister Wants Minerals Projects Built Within a Decade. [online] Available at: https://www.mining.com/web/canadas-mining-minister-wants-minerals-projects-built-within-a-decade/
The Threat of Graphite Supply Shortage and its Impact on the Electric Vehicle Rollout
Introduction
Electric vehicles (EVs) have been gaining popularity in recent years due to their environmental benefits and lower operating costs compared to traditional gasoline-powered vehicles. However, the production of EVs relies on the availability of a critical component - graphite. Graphite is a key material used in the production of lithium-ion batteries, which are the most used type of batteries in EVs.
The Threat of Graphite Supply Shortage
According to a recent report by S&P Global Market Intelligence, the threat of a graphite supply shortage looms over the electric vehicle rollout. Graphite is primarily sourced from China, which accounts for more than 70% of the global production of the material. The increasing demand for graphite in the EV industry has led to a shortage of material in the market. This shortage could potentially slow down the production of EVs and impact the growth of the industry.
Impact on the Electric Vehicle Rollout:
The shortage of graphite could lead to higher prices for the material, which in turn could increase the cost of producing EVs. This could make EVs less affordable for consumers and hinder the growth of the industry. Moreover, the shortage could also lead to production delays, as manufacturers struggle to secure enough supply to meet their production needs.
Conclusion
The threat of a graphite supply shortage is a significant concern for the electric vehicle industry. The shortage could impact the production of EVs and slow down their rollout. The industry needs to find ways to secure a stable and reliable supply of graphite to ensure the continued growth of the EV market.
References:
S&P Global Market Intelligence. (Jan. 2022). The threat of graphite supply shortage looms over electric vehicle rollout. Retrieved from https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/threat-of-graphite-supply-shortage-looms-over-electric-vehicle-rollout-68335809
Battery University. (2021). Lithium-ion battery. Retrieved from https://batteryuniversity.com/learn/article/lithium_ion_batteries
U.S. Energy Information Administration. (2021). Electric vehicles in the United States. Retrieved from https://www.eia.gov/energyexplained/electricity/electric-vehicles/
Canada Unlikely to Join OPEC-Like Group for Nickel
Nickel is a crucial metal used in the production of stainless steel and other alloys, and its demand has been on the rise in recent years. The Organization of the Petroleum Exporting Countries (OPEC), which controls the supply of crude oil, has been a successful example of countries coming together to regulate the supply of a commodity. The idea of creating an OPEC-like group for nickel has been floated, but it seems that Canada, one of the world's largest nickel producers, is unlikely to join such a group.
According to a government source, Canada is not interested in joining an OPEC-like group for nickel because the country values its relationships with its trading partners and does not want to be seen as controlling the market. Additionally, the source noted that the nickel market is much smaller and more diverse than the oil market, making it more challenging to regulate.
Canada is a significant producer of nickel, with mining operations spread across the country, including the Sudbury Basin in Ontario and Voisey's Bay in Labrador. The country is also home to several large mining companies, including Vale, Glencore, and Teck Resources, which control a significant portion of the world's nickel production.
Despite Canada's decision not to join an OPEC-like group for nickel, the idea of creating such a group has gained traction in other countries. In 2020, Indonesia, the world's largest nickel producer, proposed the creation of a nickel cartel to regulate the supply of metal. The proposal was met with opposition from other nickel-producing countries, including Australia and the Philippines.
In conclusion, Canada is unlikely to join an OPEC-like group for nickel due to its stance on maintaining good relationships with trading partners and the complexity of regulating the diverse nickel market. The idea of creating such a group has been met with opposition from other countries, and it remains to be seen if it will become a reality.
References:
"Canada very unlikely to join OPEC-like group for nickel: govt source." Mining.com, Nov. 17, 2022, https://www.mining.com/web/canada-very-unlikely-to-join-opec-like-group-for-nickel-govt-source/.
"Nickel Production by Country 2021." WorldAtlas, https://www.worldatlas.com/articles/top-nickel-producing-countries.html.
"What is OPEC?" OPEC, https://www.opec.org/opec_web/en/about_us/25.htm.
Boost in Nickel and Lithium Battery Chemistries along with Global EV sales
An increase of up to 83% year-on-year global Electric Vehicles (EVs) sales was observed by Adamas Intelligence based on its 2021 analyses. Reports also showed that 268.2 GWh of electricity was spent on EVs, particularly in the plug-in electric vehicles alone, which include both battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEV), recording a 113%-increase in the deployed EVs, globally.
Chemistries at play on these batteries showed that 54% of these newly deployed plug-in EVs was powered by high nickel cathode chemistries or NCM 6-, 7-, 8-series, NCA, and NCMA in the American Region; 26% by low nickel cathodes or NCM 5-series and lower, as explored by the European Region, and 20% by no nickel cathodes, primarily LFP, as seen in the Asia Pacific Region, particularly, China. Due to these differences in the battery composition per region, the demand for the other chemical precursor, such as lithium hydroxide and lithium carbonate, also varied, where the former was recorded at 51% in Europe, and 30% in Asia Pacific, respectively, in 2021.
Although differences in nickel demands were observed in the regions, StrategX Elements Corporation is consistent with its aim to advance ethical explorations of critical minerals and metals to provide support to the global supply chain for green innovations and renewable energies.
Reference:
"Global EV Sales Jumped In 2021, As Did Deployment of High Nickel Battery Chemistries". 2022. MINING.COM. (https://bit.ly/3p21lZt)
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)
Prices of key metals for EV to soar higher over the next years
With the growing demand for electric vehicles (EVs) worldwide, a “war for raw materials” has been budding over the years, recording all-time high in the prices of the three key metals – lithium, nickel, and cobalt. Leading innovators and forecasters of transportation electrification that use these metals, such as Tesla and Rho Motion, respectively, are closely monitoring the foreseeable supply shortage that drives these metal price uptrends.
Starting with accelerated sales of the lithium-based batteries for the EVs from 610,000 tonnes this year, versus to 490,000 tons last year that was priced at $50,000 a tonne in China, a high probability of shortage for the coming years is projected, as the “supply struggles to keep up with the demands, given long lead times between the first production from the lithium resources to the market,” according to BMI analyst George Miller. Working around these numbers, a 26,000-ton deficit as compared to last year's 12,000 tons is expected.
Along with this, worldwide nickel and nickel briquette stock supplies have fallen by 65% and 67% since April 2021 at around 88,812 and 65,676 tons, respectively. The demand, around this time, was about 2.8 million tonnes. Fortunately, despite this rattle in the equilibrium of the supply chain, this year’s projection estimates a demand of 3 million tons with a price increase of 14.5%, which would mean a surplus over demand of 43,000 tons as compared to the 159,000-ton deficit in 2021, as forecasted by Macquire analyst Jim Lennon.
Lastly, delays in the cobalt shipment of the Democratic Republic of the Congo, which extracts more than 70% of the world’s supply of cobalt affected the domestic stocks, had increased the demand this year at about 177,500 tonnes, amounting to around $70,000 per tonne today. This has been the highest level since July 2018 and is expected to continue under the deficit premise.
Combating these complications in the supply chains of these “new black gold” of the EV industry, StrategX Elements Corporation fundamentally aims to boost the global supply through its exploration projects and discoveries of ethically sourced critical mineral resource deposits.
Reference:
"Key Components for Tesla: Lithium, Nickel And Cobalt Price Evolution | Torque News". 2022. Torque News. (https://bit.ly/33vk9Zw)
Canada: Becoming supply giant to achieve climate goals
To combat the rapid regression of climate change, Prime Minister Trudeau continues to emphasize the importance of climate action and the potential key role of Canada in the production of critical minerals, specifically those new deposits for new electric batteries and modern technologies, in the new session of Parliament last January 31, 2022.
With the forecast of the World Bank of having up to 500% increase in the production of multiple mineral and metals required for the clean technology to hinder the rise in global temperatures to two degrees Celsius above the pre-industrial levels, Canada is pushed to seize the opportunity to utilize its production of the lowest carbon-intensity minerals and metals and establish policies that would strengthen its commitment to this mandate. Initial steps require: 1) enhancing public geoscience investment that is focused on supporting mineral exploration, and 2) supporting the downstream fabrication of inputs into battery manufacturing to attract investors to further solidify Canada’s role in the emerging green industry.
The country has the upper hand in increasing the domestic production of key critical minerals and metals, therefore, reducing its reliance on imports and more importantly, becoming one of the pillars that will support the international supply-chain security. With this in vision, StrategX Elements Corporation supports the national government’s mandate to become a global leader in the mineral space and become the supplier that the world needs.
Reference:
Gratton, Pierre, View author, Brendan Marshall, and View author. 2022. "Canada Must Invest In Critical Minerals". Policy Options. - (https://bit.ly/3oDHAaj)
Nickel and Zinc are now on the Critical Minerals List
Nickel and zinc are now considered as critical metals by the US Geological Society (USGS) since more and more countries depend on the exports of only a few capable host countries such as Indonesia, South Africa, and Russia for Nickel, China, Peru, and United States for Zinc, and Canada and Australia for both metals. It is also undeniable that these metals are fast gaining traction as the world propels to transportation electrification and galvanization, respectively. The growing prospect of nickel is reflected in its pricing, as its price on the London Metals Exchange doubled from around US$10,000 a tonne to US$21,670 in the last five years. Zinc, on the other hand, rebounded to $2,965 per tonne in May 2021 from a two-year decline, representing a 50% increase year-over-year, and is expected to have slow steady growth in the next years, according to the World Bank.
In addition to their high abundance in nature despite limited processing initiatives of the rest of the world, nickel and zinc are known to have excellent recyclability. Thus, these metals play a huge part in the circular economy, since the ores of these metals can be repurposed repeatedly without losing the quality. This means that nickel and zinc recycling industries can complement their respective primary productions which is greatly beneficial in delivering to the fast gaining traction of these now-considered critical metals. This advantage in metal production is fully realized by the StrategX Elements Corporation, as it takes its first step in exploring Canadian deposits that are rich in nickel and zinc, as well as other transition metals for greener technological advancements.
Reference:
"Nickel and Zinc have Joined the Critical Minerals List - Here’s why they’re important". 2022. Proactiveinvestors UK. https://bit.ly/3PUMjzc
Nickel demand for electric vehicles, an opportunity for new nickel exploration
The increasing worldwide acceptance of electric vehicles, or EVs, to support the switch towards transport electrification and lessening the dependency on oil and petroleum means an upsurge in demand for the extraction and development of energy-efficient and cost-effective battery materials. Nickel is one of these important materials in EV batteries such as rechargeable nickel-cadmium batteries and nickel-metal hydride batteries. This currently comprises 33% by mass of the battery unit. In the world’s annual nickel supply, only 3% is consumed for the manufacturing of electric vehicle batteries. However, it is expected that this percentage of nickel use may rise in the coming years since increasing the amount of nickel to 80% by mass in the battery will make it more energy-efficient.
With this rising new opportunity of nickel, the need for high-grade nickel deposits needed for EV batteries that are generally mined in places like Australia and the Arctic is expected to cause a ripple in the supply chain. At present, exploration of new mining locations for the extraction of high-grade nickel deposits in places such as Greenland, Russia, and Canada will be expected and could supply the nickel demand for these electric vehicle batteries.
Intending to contribute to the green energy sector and emerging low carbon economy, StrategX Elements Corporation takes part in the global supply chain by providing ethical discovery and sourcing of critical mineral resource deposits such as nickel. The economic situation of nickel and transportation electrification is an opportunity for StrategX Elements Corporation to ultimately contribute to a larger effort of greening the globe through exploration discoveries.
Reference:
"Blog – Arctic Nickel, Not Oil, Could Soon Power The World's Cars". 2022. Eye On The Arctic. https://bit.ly/3rzItCP.
Exploration partners for vanadium mineral to recharge looming shortage
Vanadium is another material in lithium-based batteries that is also highly demanded. Its addition is known to promote better energy storage and is termed as “supercharged” batteries. In an Audi A2 electric car developed by DBM Energy and German utility Lekker Energie that is running on a lithium-vanadium battery, a distance of 600 kilometers was completely covered in just a single charge. Vanadium batteries were able to penetrate the marketplace and Vanadium Flow Batteries (VFB) are considered as one of the promising energy storage systems. They have an excellent charge and discharge mechanism that can provide electricity instantly, prevent self-discharging while idle and generating heat when charging, can charge and discharge simultaneously and has a charging cycle of more than 10,000.
However, the success of the commercialization of VFBs entirely depends on the certainty of price and supply of high-purity vanadium which is at more than 98.4% for battery application. This is an emerging opportunity for vanadium producers to supply this increasing demand for electric vehicle batteries. With the pressure from both government mandates and the commercial sector and limited vanadium supply on the horizon, a vanadium shortage is impending. According to the United States Geological Society (USGS), the annual worldwide production and reserves of vanadium last 2009 was near 63 million tons which is equivalent to 112,000 tons of V2O5. Additionally, China, representing 40% of the world’s vanadium supply, has switched from being the world’s largest producer to the world’s largest consumer which greatly affected the supply chain.
Partners are now needed for the discovery and exploration of vanadium for the shooting up demand for electric vehicle batteries. StrategX Elements Corporation is ready to commit to becoming a strategic partner in the discovery and sourcing of critical mineral resource deposits such as vanadium. StrategX Elements Corporation envisions a greener globe through their efforts on responsible mineral discovery for clean energy sources.
Reference:
"About Vanadium | Next Source". 2022. bit.ly. https://bit.ly/3rCekTC.
Cobalt’s price continues to soar through 2022 and beyond
Cobalt is expected to follow its upward trajectory through 2022 and beyond, according to the chief executive officer of diversified mining company Eurasian Resources Group (ERG). With about 119% increase in the price of cobalt observed in the past year, no discernable signs of easing in the trend. The continuous increase in its price from $18.50-19.30 per tonne in 2021 to $34.20-34.60 per tonne on January 27 indicates its intense demand, particularly in the batteries for the electric vehicles (EVs), according to Benedikt Sobotka of the Global Battery Alliance.
Aside from its known key role in battery productions, not only for the automotive market but also for mobile electronics, the recovery of the aerospace sector intensely drove the skyrocketing of its price. ERG firmly believes that the future of EV sales will continue to soar, as driven by the EV adoption goals of the government and the target sales of the manufacturers and the producers.
All-time highs in the price of cobalt are driven by the limitations in the supply chain. The production of cobalt, particularly those from the industrial-scale mines, is dependent on the development and commissioning duration that usually takes 10-15 years on average and adopt complex processes.
It is, therefore, a vision of StrategX Elements Corporation to heed to these demands by making discoveries of ethically sourced critical mineral resource deposits and contribute to the global supply chain for green innovations and renewable energies. Along with cobalt, significant amounts of different elements that are essential for these markets are currently explored with the support of numerous strategic partners and joint ventures. Working hand in hand, robust support to a greener future is achieved through StrategX Elements Corporation’s initiatives.
Reference:
"Cobalt Outlook Bullish Through 2022 And Beyond, ERG CEO Says". 2022. MINING.COM. (https://bit.ly/3GANgZb).
Redox Flow Batteries Intensifies the Need for Vanadium
The demand for efficient energy storage through “green” batteries and microgrids is steadily increasing throughout the years as solutions for intermittent renewable energy are continuously sought. Redox flow batteries, or RFBs, are seen to be ideal in large-scale storage of solar and wind energy for use around the clock. With this, the said technological discovery and implementation is set to overtake the latter in terms of total storage capacity by 2031, relieving some of the stress off the high demands on the lithium-ion battery, according to IDTechEx, a United Kingdom-based market and business research firm.
In this technology, vanadium will be utilized in both the positive and negative electrolyte solutions as it can exist in four different oxidation states, preventing cross-contamination due to the same anode and cathode materials. Furthermore, its storage system uses liquid vanadium electrolyte that never degrades. Thus, Vanadium RFBs offer ease of scalability, reliability, flexibility, quick response, and safety when compared to the traditional lithium-ion and other batteries used in the industry.
However, solutions to the challenges in the extraction of Vanadium are currently explored. Different technologies, such as those of the VandiumCorp Electrochem Process Technology, aim to extract vanadium with less use of heat and with more efficient recovery methods of vanadium iron, titanium from the host deposits of vanadiferous titanomagnetite. This is much cleaner and more efficient than conventional roasting and smelting, and also enables the recovery the iron and titanium. Thus, the efficient recovery and added revenue from the selling of the mentioned metals is expected to lower the cost of producing battery-grade vanadium.
To unlock the global supply of Vanadium, substantial resource bases must be explored. Canada, along with the United States, is known to host rich deposits of Vanadium. And through StrategX Elements Corporation, the exploration of highly mineralized areas in the country, and prospectively, the extraction of such critical metal would boost the supply chain of Vanadium as the world propels to the use of green technology and renewable energy.
Reference:
News, North. 2022. "Battery Valences Power Vanadium Demand". North of 60 Mining News. (https://bit.ly/3Gk8rhL).