Ferro-Alloy Resources Limited (“FAR” or the “Company”) is a Guernsey registered company, formed in 2000, which is the 100% owner of Firma Balausa LLP, the holder of the rights to develop and exploit the giant Balasausqandiq vanadium deposit in Southern Kazakhstan (Kyzylordinskaya Oblast).
FAR is listed on the Kazakhstan Stock Exchange and plans to list on the London Stock Exchange in 2018. FAR has over 150 shareholders who include well-known institutions, management and individuals or family structures from the UK, Kazakhstan and several other countries.
The Company is currently producing vanadium in the form of ammonium metavanadate (“AMV”), treating purchased concentrates and other vanadium-containing materials. The current output capacity is dependent on the type of feed. Using low-grade concentrates the plant is capable of producing around 150 tonnes of vanadium pentoxide (equivalent) per year and much higher levels from other raw-materials. Having proven the operating effectiveness, the Company now plans to install equipment to convert AMV to vanadium pentoxide and increase output in stages to up to 2,000 tonnes of vanadium pentoxide per year.
In parallel with the existing processing operations, FAR is developing the Balasausqandiq mine and plans to build an additional processing plant which will be entirely separate from and operate independently of the existing processing plant. FAR plans to build and expand the capacity of the ore-treatment plant in stages to reach a production level of 22,400 tonnes of vanadium pentoxide per year with facilities to convert to ferro-vanadium, the most commonly used form of vanadium. The ore at Balasausqandiq is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process. FAR plans to become the world’s lowest cost primary producer and has the scale of deposit which will allow it to become one of the world’s largest producers.