The case for vanadium

The case for vanadium begins with… : 

The case for vanadium begins with…

Vanadium is used in high-strength steel alloys : 

Vanadium is used in high-strength steel alloys

This is nothing exotic : 

This is nothing exotic

It has been used for decades : 

It has been used for decades

…therefore… : 

…therefore…

Demand for vanadium is closely linked to demand for steel : 

Demand for vanadium is closely linked to demand for steel

Steel demand is being driven by China : 

Steel demand is being driven by China

China is moving from being a rural society : 

China is moving from being a rural society

To becoming an urbanised society : 

To becoming an urbanised society

This has resulted in an increase in GDP : 

This has resulted in an increase in GDP

As GDP : 

As GDP increases...

So does steel consumption : 

So does steel consumption

But China still has a lot more GDP growth potential : 

But China still has a lot more GDP growth potential

China only consumes 200kg of steel per person… : 

China only consumes 200kg of steel per person…

Compared to Germany which consumes 400kg of steel per person : 

Compared to Germany which consumes 400kg of steel per person

And India only consumes 30kg per person!!! : 

And India only consumes 30kg per person!!!

Consumption POWER!!! : 

Consumption POWER!!! USA INDIA CHINA 0.3 billion people 1.1 billion people 1.3 BILLION PEOPLE

Rio Tinto expects China to DOUBLE its iron ore imports within the next 7 years : 

Rio Tinto expects China to DOUBLE its iron ore imports within the next 7 years

“More steel will be consumed in the next 20 years than was consumed during the entire 20th century” : 

“More steel will be consumed in the next 20 years than was consumed during the entire 20th century” BHP Billiton

Slide 21: 

In 2008 there were 35 European cities with more than 1 million people

Slide 22: 

By 2025, in China…

Slide 23: 

…the number of cities with…

Slide 24: 

…more than 1 million people…

Slide 25: 

…is expected to be around…

Slide 26: 

200

China is the world’s largest net EXPORTER of finished steel products, BUT… : 

China is the world’s largest net EXPORTER of finished steel products, BUT…

…it is still a net IMPORTER of high-quality steel : 

…it is still a net IMPORTER of high-quality steel

China does not produce enough quality steel to meet it’s needs, which means… : 

China does not produce enough quality steel to meet it’s needs, which means…

…it doesn’t consume enough vanadium to meet its needs! : 

…it doesn’t consume enough vanadium to meet its needs!

Slide 31: 

Scenes from the 2008 earthquake in China

Slide 32: 

Scenes from the 2008 earthquake in China

Slide 33: 

Scenes from the 2008 earthquake in China

Not enough vanadium : 

Not enough vanadium

To close this gap, and match the steel quality of North American steel producers… : 

To close this gap, and match the steel quality of North American steel producers…

China needs to source an EXTRA77 million pounds of vanadium EACH YEAR…. : 

China needs to source an EXTRA77 million pounds of vanadium EACH YEAR….

Slide 37: 

Vanadium used per tonne of steel produced NORTH AMERICA WESTERN EUROPE CIS CHINA 77Mlb per year difference

…the equivalent of the annual output of4 Barrambie operations! : 

…the equivalent of the annual output of4 Barrambie operations!

And that figure is based on the steel consumption rate of 2006… : 

And that figure is based on the steel consumption rate of 2006…

…which is continuing to : 

…which is continuing to GROW

Demand for vanadium for TRADITIONAL applications is very healthy : 

Demand for vanadium for TRADITIONAL applications is very healthy

And there are new applications on the horizon… : 

And there are new applications on the horizon…

Slide 43: 

Emission-free technology is a global priority Vanadium is playing a critical role in a number of these emerging technologies

Advanced battery technology could provide a NEW source of demand for vanadium : 

Advanced battery technology could provide a NEW source of demand for vanadium

Subaru recently announced it is trialling a new electric vehicle… : 

Subaru recently announced it is trialling a new electric vehicle… …which can travel 200km on a single charge… …and recharge to 80% capacity within 15 MINUTES! Vanadium is a significant component of this battery!

Power companies are starting to use vanadium based batteries as mass storage facilities… : 

Power companies are starting to use vanadium based batteries as mass storage facilities…

…to help smooth out power fluctuations from variable sources such as … : 

…to help smooth out power fluctuations from variable sources such as …

…wind and… : 

…wind and…

…solar : 

…solar

Slide 50: 

U.S. researchers have developed a vanadium-boride fuel cell that has DOUBLE the energy density of petrol

Slide 51: 

And Spanish scientists have developed a vanadium based material that could DOUBLE the efficiency of solar cells

In conclusion, future vanadium demand will be driven by… : 

In conclusion, future vanadium demand will be driven by…

…development of the world’s 2 most populous nations… : 

…development of the world’s 2 most populous nations…

…and new technologies with potential for significant growth : 

…and new technologies with potential for significant growth (remember lithium)

Thank You. : 

Thank You.

Slide 58: 

Artists Acknowledgement Some elements of this presentation were used under the Creative Commons Attribution-Share Alike 2.0 Generic Licence and we would like to acknowledge the creators of some of the photos that were used and which were sourced from Flikr: gregor y, mrhayata, decafinata, openDemocracy, mahalie, Andrew Turner, Thomas Roche, EverySpoon