NEW YORK Australias Atlantic Ltd. saw "significant advances" in its ferrovanadium production in August, it said, noting aggressive spot pricing in the North American market.
The Windimurra Mine in Western Australia, operated by Atlantic subsidiary Midwest Vanadium Pty Ltd., produced 56 tonnes of ferrovanadium in August, up from 3.7 tonnes in July.
"Significant advances were made in August in the refinery. In July there had been very little production of ferrovanadium while the electric-arc furnace crucible refractory bricks were replaced and modifications were made to the (crushing, milling and beneficiation) plant," the company said.
The facility resumed production last month (amm.com, Aug. 21).
"A smelting rate of four pours per day was achieved in August, demonstrating the refinerys capability to achieve an increased frequency of smelts. This smelt rate and the size of each smelt will increase at later stages in the ramp-up process, as experience and upstream inputs increase," it added.
The company also reported sales of 24 tonnes in August under its offtake agreement after no sales in July.
"As part of the ultimate distribution of vanadium to end-users throughout the world, additional inventory of ferrovanadium was delivered during August to local warehouses in major markets close to consumers," the company said. "Aggressive pricing by spot market participants during the typically slow northern hemisphere summer months is believed to have led to this softening in prices in North America."
Ferrovanadium is trading in a range of $11.20 to $12.20 per pound, according to AMMs most recent assessment.