On December 15, the Bureau of Geology and Mineral Exploration of Henan Province in China announced that it has discovered a large vanadium ore deposit with proven reserves of 1 million mt in the county of Zhechuan in the province.
The estimated reserves of the deposit in question account for 25 percent of total existing vanadium reserves in the province.
It is reported that proven vanadium reserves in the county of Zhechuan have now reached 3 million mt.
Vanadium is mainly used as a catalyst and deoxidizer in the melting of alloy metals.