Vanadium is a medium-hard, steel-blue metal and is quite valuable in the manufacturing industry due to its malleable, ductile and corrosion-resistant qualities. Henry Ford used it in his cars and it was used to make portable artillery pieces and body armor in World War I.

Vanadium’s primary use is in steel hardening and with new Chinese laws making vanadium compulsory in rebar construction steel, the demand has increased. Vanadium alloys make extremely tough tools such as axles, car gears, springs, cutting tools, piston rods and crankshafts. Vanadium is also used in the aerospace industry to harden alloys and deliver super strength performance. Finally, there has been recent demand in the new era of vanadium redox flow batteries (VRFBs) for large scale commercial energy storage, which has long been a challenge for the renewable energy sector.

The vast majority of mined vanadium ore comes from South Africa, Russia, and China. About 80 percent of the global vanadium produced is alloyed with iron to make a shock and corrosion resistant steel additive called ferro-vanadium.

Prophecy Development Corp. (TSX: PCY, OTCQX: PRPCF) has the most advanced primary vanadium deposit in the USA with their Gibellini Vanadium Project in Eureka County, Nevada, USA. The project has a compliant Measured and Indicated Resource of 22.95 million tons at 0.286% V2O5.

The Gibellini Vanadium Project

The Gibellini Vanadium Project is designed to be an open pit, heap leach operation and is about 25 miles south of the town of Eureka, Nevada. Prophecy has also recently announced that they have retained Amec Foster Wheeler E&C Services Inc. to undertake the updating of the mineral resource and mining section for the Company’s upcoming Feasibility Study (FS). The FS is anticipated to be completed by the end of 2019.

Prophecy Development’s Gibellini Vanadium Project in Nevada USA

Prophecy Development’s Gibellini vanadium project in Nevada USA

Latest news

On March 7, 2019 the Company announced the appointment of Michael Doolin as the Company’s Chief Operating Officer and interim Chief Executive Officer, effective April 1, 2019. Mr. Doolin will manage Prophecy’s worldwide operations while collaborating with Prophecy’s executive chairman John Lee on investor marketing, fundraising and the Company’s overall strategic direction. Mr. Doolin is a mining professional with over 30 years of operational and management experience in Nevada with an emphasis on planning and budgeting.

Mr. Doolin comments: “I am very pleased to join the Prophecy team and to work with everyone to bring Gibellini through permitting and into production as the first US primary vanadium mine. I am also looking forward to working on Prophecy’s other advanced mining projects in Mongolia and Bolivia as we develop those projects to their full potential.”

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