Victory Metals (ASX:VTM) is looking to strengthen its scandium output from the North Stanmore Project in Western Australia following recent research from the Tokyo University of Science on valuing the commodity in sodium-ion batteries.
The Tokyo University of Science reported that sodium-ion batteries were able to retain 60% capacity after 300 cycles utilising scandium.
The company described the commodity as a “game-changer” for the next generation of energy storage technologies, as it looks to its North Stanmore Project for scandium prospectivity.
North Stanmore’s JORC-compliant resource revealed the area to contain 7.7 million kg of scandium, forecasting a price of US$630 ($956.68) per kg.
CEO Brendan Clark says Victory is positioned to emerge as one of few Australian companies able to deliver scandium oxide as a by-product.
“Scandium has long been recognised as a critical enabler for aerospace and high strength alloys, but the latest global research confirms its role as a game changer for the next generation of energy storage,” Clark says.
“As Western markets accelerate the diversification of supply chains away from China and Russia, Victory is uniquely placed to provide secure scandium oxide supply into aerospace, defence, renewable energy and now advanced battery markets.
“This is another powerful example of how our North Stanmore Project continues to strengthen as a strategic critical minerals hub and an emerging source”
A recent Prefeasibility Study determined Victory to incorporate scandium oxide in the first 10 years of operation, utilising a low-throughput solution.
Victory was recently awarded a $250,000 research grant to produce high-purity scandium oxide from the Minerals Research Institute of Western Australia (MRIWA), as reported by Mining.com.au.
Scandium’s primary use is in the aerospace, automotive, and sporting goods sectors for its combination with aluminium alloys.
The commodity also plays a critical role in solid oxide fuel cells to generate reliable and efficient energy streams.
Victory Metals is focused on exploring and developing its flagship North Stanmore Project for its heavy rare earth elements in the Cue Region of Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Victory Metals
