Objective Capital Rare Earths, Speciality and Minor Metals Investment Summit
Afternoon Keynote: Vanadium & Lithium–
The Metals of the Electric Revolution
18 March 2010
by Dr Jon Hykawy, Byron Capital
ESTIMATING WATER DEMAND DETERMINANTS AND FORECASTING WATER DEMAND FOR NZIOA C...IAEME Publication
The accuracy of water demand projections depends on the availability of reliable population and water use data as well as an understanding of the distribution of different types of users within the community. The underlying problem for this study is that water demand in Kenya is based on the fact that operational demand of drinking water is based on experience and appropriated practices, rather than local empirical evidence. There is limited number of analytical studies on water demand and supply reliability. In the face of limited knowledge, per capita use statistics adapted from developed countries are applied to estimate water consumption in Kenya, and most probably will fail to depict the water use patterns. At the same time, there is the unknown component of suppressed consumption induced scarcity and water quality problems. Almost certainly, will release these constraints, will modify and disrupt the water demand and design baseline.
Water demand forecasting for the optimal operation of large-scale water networksPantelis Sopasakis
Drinking Water Networks (DWN) are large-scale multiple-input multiple-output systems with uncertain disturbances (such as the water demand from the consumers) and involve components of linear, non-linear and switching nature. Operating, safety and quality constraints deem it important for the state and the input of such systems to be constrained into a given domain. Moreover, DWNs’ operation is driven by time-varying demands and involves an considerable consumption of electric energy and the exploitation of limited water resources. Hence, the management of these networks must be carried out optimally with respect to the use of available resources and infrastructure, whilst satisfying high service levels for the drinking water supply. To accomplish this task, this paper explores various methods for demand forecasting, such as Seasonal ARIMA, BATS and Support Vector Machine, and presents a set of statistically validated time series models. These models, integrated with a Model Predictive Control (MPC) strategy addressed in this paper, allow to account for an accurate on-line forecasting and flow management of a DWN.
ESTIMATING WATER DEMAND DETERMINANTS AND FORECASTING WATER DEMAND FOR NZIOA C...IAEME Publication
The accuracy of water demand projections depends on the availability of reliable population and water use data as well as an understanding of the distribution of different types of users within the community. The underlying problem for this study is that water demand in Kenya is based on the fact that operational demand of drinking water is based on experience and appropriated practices, rather than local empirical evidence. There is limited number of analytical studies on water demand and supply reliability. In the face of limited knowledge, per capita use statistics adapted from developed countries are applied to estimate water consumption in Kenya, and most probably will fail to depict the water use patterns. At the same time, there is the unknown component of suppressed consumption induced scarcity and water quality problems. Almost certainly, will release these constraints, will modify and disrupt the water demand and design baseline.
Water demand forecasting for the optimal operation of large-scale water networksPantelis Sopasakis
Drinking Water Networks (DWN) are large-scale multiple-input multiple-output systems with uncertain disturbances (such as the water demand from the consumers) and involve components of linear, non-linear and switching nature. Operating, safety and quality constraints deem it important for the state and the input of such systems to be constrained into a given domain. Moreover, DWNs’ operation is driven by time-varying demands and involves an considerable consumption of electric energy and the exploitation of limited water resources. Hence, the management of these networks must be carried out optimally with respect to the use of available resources and infrastructure, whilst satisfying high service levels for the drinking water supply. To accomplish this task, this paper explores various methods for demand forecasting, such as Seasonal ARIMA, BATS and Support Vector Machine, and presents a set of statistically validated time series models. These models, integrated with a Model Predictive Control (MPC) strategy addressed in this paper, allow to account for an accurate on-line forecasting and flow management of a DWN.
Sources of water, Assessment of domestic and industrial requirement, Impurities in
water, Indian standards for drinking water, Water borne diseases and their control.
International Lithium Corp Presents at Vancouver Electric Vehicles Associatio...SlideShare
International Lithium (subsidiary of TNR Gold Corp TNR:TSXV) presents at VEVA June 2010. Includes an overview of the lithium industry, Lithium 101 (what it's about), and great background information on how Lithium is produced.
Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Thomas Krause, Chemetall Lithium
A global overview of the geology and economics of lithium productionJohn Sykes
Lithium demand is growing fast, driven by a wide range of battery applications, which are in turn changing the structure of
demand, the lithium supply chain and potentially raw material requirements though much still remains uncertain;
•
Geologically ‘brine’ salars and ‘hard rock’ pegmatites remain the most important lithium deposit types in terms of
production and undeveloped resources, however, there are some interesting emerging sedimentary / clay deposits and
unconventional brine concepts and lithium remains very ‘under explored’ globally;
•
Spodumene pegmatites in Australia are the fastest growing source of supply, however, long term competitiveness may be
dependent on successful downstream integration targeting the battery industry;
•
The concept of a Western Australian ‘Lithium Valley’ is possible, despite high costs, due to the number of quality mines,
proximity to Asia, and the unit reduction in freight costs associated with the low grade spodumene concentrate , in addition
to the ‘cluster effect’ of many minerals businesses, specialists and students;
•
The ‘green’ association of lithium use presents a challenge of ‘strategic coherence’ to explorers and miners impacting
decisions around exploration, mining, investors, stakeholders, and leadership;
•
But remember, we are in an unsustainable ‘lithium boom’ of high prices and high volume growth future long term growth
of the industry is reliant on structurally lower prices, and thus structurally lower costs.
Sources of water, Assessment of domestic and industrial requirement, Impurities in
water, Indian standards for drinking water, Water borne diseases and their control.
International Lithium Corp Presents at Vancouver Electric Vehicles Associatio...SlideShare
International Lithium (subsidiary of TNR Gold Corp TNR:TSXV) presents at VEVA June 2010. Includes an overview of the lithium industry, Lithium 101 (what it's about), and great background information on how Lithium is produced.
Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Thomas Krause, Chemetall Lithium
A global overview of the geology and economics of lithium productionJohn Sykes
Lithium demand is growing fast, driven by a wide range of battery applications, which are in turn changing the structure of
demand, the lithium supply chain and potentially raw material requirements though much still remains uncertain;
•
Geologically ‘brine’ salars and ‘hard rock’ pegmatites remain the most important lithium deposit types in terms of
production and undeveloped resources, however, there are some interesting emerging sedimentary / clay deposits and
unconventional brine concepts and lithium remains very ‘under explored’ globally;
•
Spodumene pegmatites in Australia are the fastest growing source of supply, however, long term competitiveness may be
dependent on successful downstream integration targeting the battery industry;
•
The concept of a Western Australian ‘Lithium Valley’ is possible, despite high costs, due to the number of quality mines,
proximity to Asia, and the unit reduction in freight costs associated with the low grade spodumene concentrate , in addition
to the ‘cluster effect’ of many minerals businesses, specialists and students;
•
The ‘green’ association of lithium use presents a challenge of ‘strategic coherence’ to explorers and miners impacting
decisions around exploration, mining, investors, stakeholders, and leadership;
•
But remember, we are in an unsustainable ‘lithium boom’ of high prices and high volume growth future long term growth
of the industry is reliant on structurally lower prices, and thus structurally lower costs.
This presentation argues that the metal lead has some significance in industry and production of essential services for man. Negligent use however may cause contamination. Best practices in producing, handling and disposal of lead are necessary precautions even as we consider alternatives.
Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Gerry Clarke, International Lithium Alliance
Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Adrian Chapman, Oakdene Hollins
October 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Metal
COMPANY ANALYSIS : Tata Steel
Events Report
Concept of the Month
Quiz
Did You Know?
Presented by Alkane Resources Ltd Managing Director, Nic Earner, on 3 May 2018 in Toronto.
Similar to Objective Capital Rare Earth and Minor Metals Investment Summit: Vanadium & Lithium– The Metals of the Electric Revolution - Jon Hykawy (20)
Century Iron Mines Corporation | Corporate Presentation | November 2012
Speaker: Sandy Chim, C.A., Director, President and Chief Executive Officer
Company Information:
as of Nov 2012
TSX Venture: FER
52-Week high/low: C$0.92-C$2.50
Market Cap: C$97.0m
Recent Price: C$1.02
Shares: 94.9 million
Fully Diluted: 103.8 million
Website: www.centuryiron.com
Century Iron is Canada’s largest holder of iron ore land claims in a public company, with interests in several properties in the Provinces of Quebec and Newfoundland & Labrador. Century’s vision is to exploit its large property asset base to become one of the country’s largest iron ore producers.
Century has structured a unique strategic formula to pave the way to achieving its vision: It has attracted
WISCO and MinMetals, two of the largest Chinese state-owned enterprises, as equity investors and strategic partners (25% and 5% respectively). WISCO is a further 40% JV investor in individual projects, and these partners have committed to 60‑70% off-take agreements for future product. They will also procure to provide up to 70% of production capex on positive feasibility, in the form of nondilutive debt financing for the Canadian company.
Objective Capital's Industrial Minerals & Metals Resources Investment Forum 2012
Ironmongers' Hall, City of London
6 November 2012
Speaker: Alan Cruickshank, Gensource
Objective Capital's Industrial Minerals & Metals Resources Investment Forum 2012
Ironmongers' Hall, City of London
6 November 2012
Speaker: Catherine Feore, Adroit Resources
Objective Capital's Global Resources Investment Forum 2012
Ironmongers' Hall, City of London
25 September 2012
Speaker: Richard Williams, Helio Resource
Objective Capital's Global Resources Investment Forum 2012
Ironmongers' Hall, City of London
25 September 2012
Speaker: Gary Billingsley, Great Western Minerals
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Scope Of Macroeconomics introduction and basic theories
Objective Capital Rare Earth and Minor Metals Investment Summit: Vanadium & Lithium– The Metals of the Electric Revolution - Jon Hykawy
1. Investment Conferences
RARE EARTHS, SPECIALITY
& MINOR METALS
INVESTMENT SUMMIT
1.15 – 1.40
Afternoon keynote: Vanadium & Lithium –
The Metals of the Electric Revolution
Dr Jon Hykawy – Clean Technologies & Materials Analyst, Byron Capital
THE LONDON CHAMBER OF COMMERCE AND INDUSTRY ● THURSDAY, 18 MARCH 2010
www.ObjectiveCapitalConferences.com
2. Lithium and Vanadium
The Metals of the Electric Revolution
March 18, 2010
Rare Earths, Specialty and Minor Metals
Summit, London
3. What is Lithium?
Li is the lightest metal, very chemically
reactive
Diffuse deposits, hard to locate
economical concentrations
Sourced from brines (< 0.2%
concentration), ores (< 4%) or clays (<
0.5%)
Used in glass/ceramics, batteries,
industrial greases, pharma and air con
4. Where Does Li Come From?
Li2CO3 is usual shipped form
Historical highest production in 2008 at 121,000
tonnes (Roskill, 2009)
Largest producer is SQM of Chile (SQM:NYSE)
with 25% market share (30% of chemicals)
FMC Lithium (FMC:NYSE) and Chemetall
(ROC:NYSE) are also major producers
Talison of Australia (private, IPO pending) rounds
out the list
(USGS, 2002)
5. Where Does Li Come From?
Brines
– Li available as salt (LiCl); brines are evaporated out to raise concentration, then
soda ash used to precip out Li2CO3
– Trick is, lots of other salts in brine, too
– MgCl is the biggest problem; economics suggest Mg:Li must be < 8
– Right behind magnesium as a problem is sulfate
Minerals
– Talison in Australia produces Li from spodumene (LiAl(SiO3)2
– More expensive than from brines if Li2CO3 is the goal, as mineral must be
extracted, calcined, pulverized, treated with sulphuric acid to extract Li then
treated with soluble carbonates
Hectorite Clays
– Likely a lot cheaper than minerals, slightly more expensive than some brines,
but cheap enough
– Extracting from NaO3(Mg,Li)3Si4O10(F,OH)2, perhaps 0.35% Li content
– Roasting with process chemicals, water leaching and chemical treatment
6. How Much Li is Used?
Roskill estimates 2009
demand was at
102,000 tonnes, down
Ceramics/Glass
Batteries
from 118,000 tonnes Greases
in 2008 Aluminum Prodn
Air Con
Uses are largely Casting
industrial with GDP- Thermoplastics
type growth, and in
Other
Li-ion batteries for
electronics with Roskill, 2008
growth at much
higher rates
7. Li Demand Growth
This
is what we believe the lithium
industry looks like, moving forward:
2009 2010 2011 2012 2013 2014 2015
Glass 27,258 27,803 28,915 30,072 31,275 32,526 33,827
Grease 11,399 11,627 12,092 12,576 13,079 13,602 14,146
Al Prod. 5,876 5,994 6,234 6,483 6,742 7,012 7,293
Air Con 5,452 5,561 5,783 6,014 6,255 6,505 6,765
Casting 7,021 7,161 7,448 7,746 8,056 8,378 8,713
Other 19,588 19,980 20,779 21,610 22,475 23,373 24,308
Batteries 25,800 26,574 28,168 30,422 32,856 35,484 38,323
Autos 0 150 6,350 10,100 14,500 19,900 28,700
Total 102,394 104,850 115,769 125,023 135,236 146,780 162,075
8. What is Vanadium?
V is an uncommon metal, chemically
similar to tantalum and niobium
Produced largely as by-product
Most comes from slags (56%)
54,000 tonnes of metal produced in
2009 (USGS, 2010)
Used primarily, today, as a steel
hardener and strengthening agent
9. How Much V is Produced?
V ships as pentoxide (V2O5) or ferrovanadium
Roughly 59,100 tonnes of metal produced in
2007 (USGS, 2008), dropping to
Biggest sources are South Africa, Russia, China
V is the 17th most common element on Earth
(USGS, 2002)
10. Where Does V Come From?
Slags
– Slag from iron or uranium processing containing vanadium pentoxide is roasted
with sodium compounds, sodium vanadates leached out with water, converted to
ammonium vanadate, dried and roasted to result in vanadium pentoxide
– 56% of current V production is based on slag processing
Minerals
– There are more than 60 known minerals containing V
– Several producers mine minerals and produce V from them
– Usually low-cost open-pit operations
– 43% of vanadium comes from minerals
Catalysts
– Spent catalysts are processed to extract V
– Primarily done in Japan
– 1% of annual production is from reprocessed catalysts
11. How Much V is Used?
Supply and demand fairly well balanced at
around 54,000 tonnes in 2009
85% of V production used in steels
Metallurgical uses account for 92%
Highest non-metallurgical use is for
catalysts in sulfuric acid and maleic
anhydride production
12. V Demand Growth
Steel growth is rising rapidly; World Steel Association
estimates demand fell 8.6% in 2009, but slated to rise
9.2% in 2010; Macquarie estimates steel demand up by
nearly 6% per year thereafter, high grade steels by 8%
Non-metallurgical usage rising at rates of GDP
Lithium-ion battery use a potential strong driver for new
demand; Li3V2(PO4)3 is the highest voltage, highest energy
cathode identified for lithium-ion batteries
Grid-level storage using vanadium redox flow batteries
could grow to rival any other demand, but over time
13. V in Lithium Batteries
Simple reasons for V demand in
lithium battery use:
Cathode Voltage (V) Energy (kWh/kg) Cost ($, relative)
LiCoO2 3.7 0.518 1.00
LiMn2O4 4.0 0.400 0.04
LiFePO4 3.3 0.495 0.03
Li2FePO4F 3.6 0.414 0.08
Li3V2(PO4)3 4.8 0.624 0.40
LiVPO4F 4.1 0.492 0.84
14. V in Grid Storage
Our calculations for older technology
vanadium redox batteries suggests 10
tonnes of V metal required per MWh of
energy stored
Applications can easily scale to 6-10 MWh
per site, so demand can ramp quickly
VRBs are already deployed in many
places, including US, Japan and China
15. V Supply vs. Demand
Assuming all projects and expansions reach market:
Year 2010 2011 2012 2013 2014 2015
Potential Supply (tonnes) 67,200 83,700 105,200 117,200 127,200 132,300
Metallurgical Use (tonnes) 49,572 53,538 57,821 62,446 67,442 72,838
Other Use (tonnes) 8,424 8,761 9,111 9,476 9,855 10,249
Potential Auto Use (tonnes) 118 4,637 7,303 10,492 14,369 20,748
Potential Grid Use (tonnes) 303 707 1,515 3,030 6,060 9,090
Total Use (tonnes) 58,417 67,643 75,750 85,444 97,726 112,925
16. Conclusions
Allindustrial minerals (even REEs!)
have basic investment rules:
– Interesting deposits are low-cost
– Interesting deposits are scalable
Inexpensive lithium is marketable
Inexpensive vanadium is desirable
17. Disclaimer
Information contained herein has been drawn from sources believed to be
reliable but its accuracy or completeness is not guaranteed. This is not a
research report. Byron Capital Markets, a division of Byron Securities
Limited (“Byron”), does not assume any responsibility or liability for these
trade recommendations. From time to time, Byron and its directors,
officers and other employees may maintain positions in the securities
mentioned herein. The contents of this report cannot be reproduced in
whole or in part without the expressed permission of Byron. This
information is intended for use by qualified accredited and institutional
investors only and is not intended for retail investors. This information is
not intended for use by any U.S. investor.
