Noble Group inks deal with PMA

Hong Kong-based commodities trader Noble Group Ltd announced that it inked an agreement with Precious Metals Australia Ltd. (PMA) to buy the total vanadium output of the Windimurra mine in Western Australia. The agreement will be in effect for a period between 10 years and 20 years. In line with the deal, Noble will have exclusive rights to market and sell vanadium pentoxide and ferrovanadium ores from the mine. Sales would total S$3 billion (US$1.9 billion) over 20 years at a planned production of 5 million kilograms a year of contained vanadium. Vanadium is used in specialty alloys such as those used in surgical instruments and jet engines.