Mayur resource eyeing vanadium to be mined in PNG
BY GORETHY KENNETH
MAYUR Resource PNG whilst known for its industrial minerals like coal and energy projects has remained relatively low key on the potential of its Vanadium holdings in Papua New Guinea.
Mayur says that PNG has Vanadium and it is a very attractive element in our mineral sands portfolio with some grades being comparable to the world’s best deposits. Mayur CEO Paul Mulder said they have already conducted a domestic based smelting study that extracts iron, vanadium and titanium as separate products and is positioning to yet again highlight another opportunity for PNG to diversify and unlock the value of its mineral resources.
Vanadium traditionally is used as a mineral for steel strengthening during the melting process but in recent years Vanadium has sky rocketed in price due to its superior performance over lithium in the large scale storage and distribution of energy from a battery.
Vanadium Redox batteries have been gaining more support in recent years as the Vanadium battery has infinite recharges and is able to release energy at a load level frequency that is able to support main grid base load power requirements.
“Yes we do have Vanadium in PNG and it is a very attractive element in our mineral sands portfolio with some grades being comparable to the world’s best deposits,” he said.
“But when quizzed Mr Mulder elected not to make comment on the commercial positioning it had undertaken in enabling PNG to participate in the exploding energy storage sector.
“It is understood however from a source that Mayur have already conducted a domestic based smelting study that extracts iron, vanadium and titanium as separate products and is positioning to yet again highlight another opportunity for PNG to diversify and unlock the value of its mineral resources,” he said.
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