Vanadium can be found in abundant quantities in Sweden, including at Österlen. According to a recent forecast, global demand for vanadium will grow very sharply.
Vanadium is used primarily in steel alloys (90 per cent of consumption), but also in so-called flow batteries.
It is the construction industry in China that is driving the increased demand as it will prioritize the use of steel with higher vanadium content. At the same time, China's new environmental legislation has limited its own production and import of vanadium-containing slag.
All the major vanadium-producing countries - and Australia - are expected to increase production. The global consumption of vanadium is estimated to increase by 3 per cent by 2023. The report "La fiche de criticité du vanadium" has been published by the French institute BRGM and is available on the site minéralinfo.fr
