Posted in | News | Mining Business

Green Standard's Xichuan Vanadium Receives Approval to Construct New Vanadium Production Facility in China

Green Standard Vanadium Resources Corp. ("Green Standard" or the "Company") is pleased to announce that its 90% owned subsidiary Xichuan Vanadium Resources Co., Ltd. ("Xichuan Vanadium"), based in Henan Province, China, has received approval from the Chinese government to construct a new vanadium production facility.

The new facility is proposed to be constructed approximately five kilometres from the Company's existing production facility and is expected to increase the Company's annual Vanadium Pentoxide (V205) output capacity from the current 3,000 tonnes to a total of 9,000 tonnes. Detailed management analysis on the viability and benefits of the Company operating an additional processing facility supports the construction of the new project.

The new facility is expected to utilize ores from both Xichuan Vanadium's 100% owned Kongshan vanadium mine and other local vanadium mines.

In 2013, the Company upgraded its existing vanadium processing facility and equipment to enhance environmentally friendly operations and improve production efficiencies. The Company's proposed new vanadium processing plant is expected to enhance existing profitable operations by maximizing productivity through increased capacity.

The Company is examining financing options for the development and construction of the project but has not determined the specifics of such financing.

About Green Standard Vanadium Resources Corp.

Green Standard, through its wholly-owned holding companies Seymour Metal Holding Inc. and Vanadium Resources Limited, holds a controlling 90% equity interest in Xichuan Vanadium Resources Co., Ltd., ("Xichuan Vanadium"), located in Henan Province, China. Xichuan Vanadium is in the business of acquiring, exploring, developing and mining of mineral properties with a focus on vanadium properties, as well as processing of vanadium products at its processing plant. Xichuan Vanadium holds 100% interest in and a mining license to the Kongshan vanadium property. Green Standard's common shares are traded on the CSE under the symbol "GVM".

Source: Green Standard Vanadium Resources Corp.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.