Critical Minerals Group achieves pre-feasibility milestone at Lindfield Vanadium Project

Critical Minerals Group has successfully completed a pre-feasibility study (PFS) for its Lindfield vanadium project, marking a key step toward advancing the integrated operation to the definitive feasibility study (DFS) stage.

The preferred development strategy envisions a combined operation featuring an open-cut mine with an annual throughput of 3 million tonnes near Julia Creek in Queensland, alongside a vanadium electrolyte (VE) manufacturing facility in Parkes, New South Wales.

Under the proposed timeline, the VE plant would be commissioned ahead of the Lindfield mine, initially utilizing third-party vanadium pentoxide (V2O5) feedstock. This phased approach is expected to accelerate first revenue to 2028 while reducing the project's peak funding exposure.

According to the PFS, total capital expenditure is estimated at $981 million, with peak funding requirements projected at $736 million. The study indicates a payback period of seven years and supports a mine life extending to 31 years.

Average annual V2O5 production is estimated at 10,577 tonnes over the first 16 years of operation. On a post-tax basis, the project's net present value (NPV) is calculated at $458 million, with an internal rate of return (IRR) of 18%.

The project is supported by a mineral resource estimate (MRE) totaling 713 million tonnes at a grade of 0.32% V2O5, of which 491 million tonnes fall into the Indicated category and 222 million tonnes into the Inferred category. However, no formal ore reserve has yet been established, as additional drilling is required to progress the DFS.