Ticker: Private Company
Project Stage: Exploration, Development
Multicom Resources Limited is a mining company that is well advanced on the development of its 100% owned Saint Elmo Vanadium Project. The Project is in the final stages of its Definitive Feasibility Study and statutory approvals processes. The Saint Elmo project is situated 25km east of Julia Creek in Queensland’s North West Minerals Province. This district is renowned as one of the world’s richest mineral-producing regions.
Vanadium is a critical mineral with the steel sector accounting for approximately 90% of the global vanadium consumption. There is currently an increasing global demand for lighter weight and higher strength steels across the infrastructure, aviation and automotive industries. Vanadium is also a core component of the emerging Vanadium Redox Flow Battery technology, which uses a vanadium electrolyte to produce long-life, stable energy storage systems.
The Saint Elmo Project has a large-scale, JORC 2012 Compliant Resource that occurs at-surface and only extends to an average of 20m. This shallow, sedimentary deposit is free-dig, resulting in a low cost, low impact mining and beneficiation process. The metallurgical process incorporates cost effective, proven technologies to extract high grade vanadium pentoxide with a very low Carbon Footprint. Multicom is also well advanced on progressing the extraction of at least two high value by-products, which will support strong economics for the Project.
The Project continues to receive strong support from all levels of Government, with the strategic focus shifting towards critical minerals around the globe. Having already formed established relationships with offtake partners across the steel and energy storage sectors, Multicom is set to become a leading global supplier of vanadium products.
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