Australian Government Sees Potential In Vanadium

Australia’s federal government gave ‘major project status’ to Australian Vanadium’s (ASX: AVL) namesake project located in the Murchison province and it also provided the Perth-based company with a A$74-million loan through the Northern Australia Infrastructure Facility.

“Vanadium is on the critical minerals list for Australia and the US, which means there is a market there for this globally significant resource,” the Minister for Resources and Northern Australia, Matt Canavan, said in a media statement. “This project will have a significant impact on the Western Australian economy, especially the Meekatharra region with the creation of around 400 direct construction jobs and a further 200 ongoing jobs.”