So, just why is vanadium so special? This soft, ductile silver-gray metal, often called a “rare earth”, was first discovered in an iron mine in Sweden in the 1700s. Vanadium is actually a specialty or “strategic” mineral in high demand by both the steel and renewable energy industries.
 Vanadium is added to steel to create a product that is lightweight but extremely high in tensile strength and wear resistance – the fastest growing segment of the steel market. One of the first industrial uses of vanadium was to lighten steel used in the Ford Model T chassis. Today, vanadium is used to create steel and titanium alloys for the construction, automotive, tool-making, shipbuilding, pipeline, aviation and aerospace industries. In fact, vanadium-titanium alloys are irreplaceable in aerospace because they offer the best strength-to-weight ratio of any comparable material. According to BHP Billiton, “more steel will be consumed in the next 20 years than was consumed during the entire 20th Century.

With a growing emphasis on “green” technologies, there is increasing demand for vanadium in this sector as well. Vanadium’s unique qualities are prized in battery applications, particularly for the efficient storage of solar, wind and geothermal power generated electricity, as well as in extending the range (energy) of hybrid & electric cars. Rechargeable vanadium batteries have the unique ability to store and release huge amounts of electricity instantaneously. The metal also supercharges lithium-ion batteries. 
 In 2008, Discover Magazine called vanadium “the element that could change the world”. The U.S. government is investing $2 billion to develop advanced batteries, particularly for storage of renewable energy and for battery-powered vehicles. A research partnership involving leading industry and universities is investigating high-performance steel-vanadium alloys for the U.S. Army. The metal also has health applications – it removes toxins from effluents and natural gas and has even been found to be effective in helping control the effects of Type 2 diabetes.
 World consumption of vanadium is expect to rise exponentially in the coming years. According to the CPM Group, vanadium demand “increased at a robust rate” over the past five years and the future outlook for vanadium prices is “positive”. However, many vanadium sources require a relatively high market price to extract the metal profitably.

Don

Compliments of Peter Marshall