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The Ferro-Alloy Resources Group (“FAR”) is developing the giant Balasausqandiq vanadium deposit in Kyzylordinskaya oblast of southern Kazakhstan.  The ore at this deposit is unlike that of nearly all other primary vanadium deposits and is capable of being treated by a much lower cost process. It is planned that output will be increased in stages to reach 22,400 tonnes of vanadium pentoxide per year, mostly in the form of ferro-vanadium.

FAR is already in production processing purchased vanadium-containing secondary materials to produce vanadium in the form of ammonium metavanadate (“AMV”). FAR currently installing equipment which will enable it to increase production and convert its AMV into the more commonly traded vanadium pentoxide.