Palm Beach, FL – (November 28, 2018) –Vanadium is experiencing a surge in demand due to a number of factors currently existing in the global economic climate. What used to be one of the world’s least known metals now holds great importance and likely to become more so as renewable energies catch up with and possibly eclipse fossil fuels. Manufacturers in the United States are searching for affordable steel alternatives in light of the current international trade issue of tariffs, leading to Vanadium stepping in as an affordable and quality option. Additionally, vanadium is also being sought after as the demand for renewable energies rise, with vanadium presenting a highly attractive option when it comes to storing renewable energy. Essentially, vanadium has emerged as an extremely valuable utility for a wide variety of uses. Spending on vanadium is rising, with prices recently surpassing $30/lb this fall. Active in the mining industry today includes: Maxtech Ventures Inc. (CSE:MVT) (OTC:MTEHF), Largo Resources Ltd (OTC:LGORF) (TSX:LGO), Energy Fuels Inc. (NYSE:UUUU), Vale S.A. (NYSE:VALE), Advantage Lithium Corp. (TSX-V:AAL) (OTC:AVLIF).
Maxtech Ventures Inc. (CSE:MVT) (OTCPK:MTEHF) (Frankfurt: M1N) BREAKING NEWS: Maxtech Ventures announces it is moving forward with its Brazilian vanadium exploration initiatives. Maxtech has existing vanadium claims in Northern Brazil and has engaged Daniel Geyerhahn Garcia, CEO Goldmen Resources Brazil to liaise with the in country team and to lead the exploration plan that will identify further potential vanadium mineralization deposits in other Brazilian areas of interest where the Company has established high-grade manganese assets. Mr. Garcia has been an active CEO for 5 years in the mining sector focused on gold exploration. He has also worked in the State of Amazonas and Pará in other projects and organized teams specialized in the development of the Ouro Apuí and Tapajós project. He also has experience in Mineral Research, Green Field Projects, Licensing environmental, DNPM (ANM) procedures among others.
Maxtech is currently in discussions with several groups who are interested in certain joint-venture exploration opportunities within the Company’s vanadium claim portfolio, This strategy aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint-venture funded partnerships. The Company currently holds a diverse portfolio of global vanadium prospects and has numerous strategic relationships. Maxtech’s two vanadium claims were submitted to the Departamento Nacional de Produção Mineral (DNPM) in Brazil on July 20th 2018. The total areas of interest are 3500 hectares and they are located in the eastern Bahia State of Brazil, which is roughly 250 km southwest of Salvador and 813 km northeast of the capital of Brazil in Brasilia near the city of Maracás.
The claims are next to the producing Maracás Menchen Vanadium Mine and the Campbell pit deposit being developed by Largo Resources, which is a Toronto-based strategic mineral company focused on the production of vanadium flake, high purity vanadium flake and high purity vanadium powder.
Peter Wilson said, “In the current mining climate, joint-venture partnerships will be key to success with global assets. Daniel being on the team in Brazil will be a tremendous asset to the Company’s vanadium acquisition and exploration strategy.” Read this and more news for Maxtech at: http://www.financialnewsmedia.com/news-mvt/
Other active miners to keep close tabs on today include:
Largo Resources Ltd. (TSX:LGO.TO) (OTCQX:LGORF) recently announced that Instituto do Meio Ambiente e Recursos Hidricos (“INEMA”) has published the Company’s environmental license (the “License”) for the Maracás Menchen Mine expansion project. As previously announced on April 16, 2018 , Largo has commenced an expansion project that focuses on increasing the production capacity of the milling, fusion (deammoniator, furnace and flaking wheel), leaching and filtering areas. The expansion will see production capacity at the Maracás Menchen Mine increase 25% from the nameplate rate of approximately 800 tonnes per month of vanadium pentoxide (“V2O5”) to 1,000 tonnes per month (the “Expansion Project”). The enhanced production rate at the Maracás Menchen Mine is expected to result in an additional 200 tonnes of V2O5 being produced per month from and after June 2019 and capital expenditures for the plan are anticipated to total approximately US$15.5 million using current exchange rates. Construction began at the beginning of June 2018 with an expected timetable for completion of approximately 12 months, including the required commissioning.
Energy Fuels Inc. (NYSE:UUUU) recently announced it recently hosted a team of U.S. Department of Commerce (DOC) Section 232 investigators at four uranium mines and mills in Utah and Wyoming. The tour was part of DOC’s Section 232 investigation into the effects on national security of today’s high levels of uranium imports into the U.S. The tour included stops in Utah at Energy Fuels’ White Mesa Mill, which is the only operating uranium mill in the U.S., and the La Sal Complex, which is one of only two underground uranium mines currently operating in North America. The tour also included visits to two operating in-situ uranium recovery (ISR) facilities in Wyoming: Energy Fuels’ Nichols Ranch ISR Project and Ur-Energy’s Lost Creek ISR Project.
Vale S.A. (NYSE:VALE) closed up 1.10% on Tuesday with over 26.7 million shares traded by the market close. Vale is Brazil’s largest manganese producer, accounting for 70 percent of its market, with the majority of that production coming from the Azul mine in the northern state of Pará.
> The Phase III infill drilling and resource conversion program is close to completion in the NW Sector and continues in the deep sand unit in the SE Sector. The program is currently on track to upgrade the current Inferred Resource to Measured and Indicated Resources by early 2019.
> Drilling of holes CAU22, CAU25, CAU27 and CAU19 recently completed in the SE Sector
> Drilling of holes CAU28 and CAU29 completed to extend the NW Sector resource area further south, increasing it by ~20%. Drilling identified the presence of an extensive (> 300 m thick) sequence of sand and gravel in the southern continuation of the NW Sector.
> Constant-rate pumping test underway in CAU11 to simulate long-term production; CAU07 pumping test to begin within 2 weeks.
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