June 30, 2000 A techno-economic study to beneficiate the ore from the main magnetite layer was conducted. An evaluation of the results concluded that over a 20-year project life, at an annual rate of 4,120 tons of ferrovanadium, and a price of $17/kg, the operation showed a net present value of $66 million.
June 30, 2000 A techno-economic study to beneficiate the ore from the main magnetite layer was conducted. An evaluation of the results concluded that over a 20-year project life, at an annual rate of 4,120 tons of ferrovanadium, and a price of $17/kg, the operation showed a net present value of $66 million.
June 8, 2000 Pinnacle Resources has negotiated to acquire 100% of Vanadium and Magnetite Exploration and Development (Pty) Ltd. (V-MED) of South
Africa. V-MED holds a 30-year mineral lease on five contiguous farms covering 17,188 acres near the town of Potgietersrus. The farms host two magnetite layers which strike for 17 km across the properties. Together it is believed they contain the largest undeveloped resource of vanadium in the world. The upper layer is estimated to contain 100 million tons of magnetite grading 1.24% vanadium pentoxide and 11.88% titanium dioxide.
