Richmond-Julia Creek vanadium project, Australia

Image of fine vanadium

7th July 2023

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


Font size: - +

Name of the Project
Richmond-Julia Creek vanadium project.

Five-hundred kilometres west of Townsville, in north Queensland, Australia.

Project Owner/s
Richmond Vanadium Technology (RVT).

Project Description
The Richmond project is one of the biggest undeveloped oxide vanadium resources in the world, with the potential to meet increased demand from the speciality steel industry and the grid-scale energy storage market. The project consists of five tenements (EPMs 25163, 25164, 25258, 26425, 26426) totalling 1 403 km2 and comprises three main prospects – Lilyvale, Manfred and Rothbury.

RVT estimates extraction of up to 4.2-million tonnes year of vanadium ore, processed on site to produce 790 000 t/y of vanadium concentrate.

Potential Job Creation
If approved, the project is expected to create up to 100 construction jobs and up to 200 operational jobs over 25 years.

Net Present Value/Internal Rate of Return
The project has an estimated net present value, at a 10% discount rate, of A$1.09-billion and an internal rate of return of 62%, based on a current spot price of A$16.44/lb of vanadium pentoxide, with a payback of 1.9 years.

Capital Expenditure
The project has modest upfront capital costs of A$242.2-million.

Planned Start/End Date
Not stated.

Latest Developments
The terms of reference for an environmental-impact statement (EIS) for the project have been finalised.

RVT will now prepare a draft EIS responding to the terms of reference, which requires rigorous assessment of social, economic and environmental impacts.

Key Contracts, Suppliers and Consultants
Faultzone (feasibility study management and processing facility and infrastructure); RVT (geology and resources estimates); Dr Dawei Xu (mining and ore reserve); Hunan Nonferrous Metal Research Institute (metallurgical testwork); Ergon Energy Corporation (power study); CDM Smith (hydrology and hydrogeology); and Epic Environmental (environmental studies).

Contact Details for Project Information
RVT, tel +61 8 6141 9500 or email

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor



Hannah Instruments
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

Hudaco Power Transmissions
Hudaco Power Transmissions

Formerly known as Bauer Geared Motors South Africa, the company was founded in 1984 as the sole distributor in Southern Africa of the Bauer Geared...


Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (07/07/2023)
7th July 2023 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.041 0.091s - 93pq - 2rq
Subscribe Now