Australian Vanadium signs MOU with Westgold Resources for water supply

Company News

by Rachael Jones

Australian Vanadium (ASX:AVL) has signed a Memorandum of Understanding with Gold miner Westgold Resources (ASX:WGX) to access water for their Vanadium Project south of Meekatharra, in Western Australia.

Potential benefits of this MOU for water access include shortening of the environmental approvals process; reduced groundwater and environmental impacts and substantial de-risking of the water volume and quality requirements.

They also hope they will have the opportunity to receive funding assistance from NAIF (Northern Australian Infrastructure Fund) during construction by providing community benefits.

Shares in Westgold Resources (ASX:WGX) closed -1.75 per cent lower at $1.96 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.