Vanadium Resources Ltd. (AU:VR8) has released an update.
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Vanadium Resources Ltd. has secured Memorandums of Understanding (MOUs) surpassing 100% of its Phase 1 production capacity for vanadium pentoxide, with the latest being with high-end alloy producer Hunan Zhongxin. The MOUs are fundamental to the company’s strategy for project financing, as it continues to engage with global traders and end-users to finalize binding offtake agreements. These developments signal strong international demand and a potential shift in the vanadium market, driven by its use in Vanadium Redox Flow Batteries (VFBs) and specialized alloys.
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