VR8 Inks Deal with CEIG for Renewable Energy Shift

Vanadium Resources Ltd. (AU:VR8) has released an update.

Vanadium Resources Ltd. has entered a partly-binding Memorandum of Understanding (MOU) with China Energy International Group Co. Ltd. (CEIG) to negotiate engineering, procurement, construction, and financing services for its Steelpoortdrift Project in South Africa. The collaboration aims to leverage VR8’s substantial vanadium resources and CEIG’s renewable energy expertise, potentially leading to a strategic shift for VR8 towards renewable energy markets. The agreement could result in VR8 becoming a vertically integrated vanadium producer, with the possibility of dedicating Steelpoortdrift’s entire output to renewable initiatives.

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