During 2019, Golden Deeps signed a Joint Venture Agreement with Hong Kong-based metals trading company Generous Metals Company Limited (GMC) to produce high-grade vanadium concentrate at the Abenab project. The concentrate will be shipped to China for refining into vanadium products and the marketing of end vanadium products.
The JV represents a very significant milestone in the development pathway for the Abenab Project.
Under the terms of the JV, Golden Deeps will provide existing material from the surface stockpile and tailings at the Abenab project and will oversee operations in Namibia as its contribution to the JV.
GMC will pay all costs of crushing, concentrating and refining the stockpile and tailings into vanadium products and will also oversee third party refining operations in China, and the marketing of vanadium products.
JV profits will be shared equally by Golden Deeps and GMC.