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The company has produced premium iron-vanadium concentrate at its Yarrabubba Iron-Vanadium Project and has signed a non-binding LOIwith Sinosteel Australia for life of mine offtake as well as an EPC contract.

The restart has been achieved in just six months following intensive work to prepare the site for their return to steelmaking operations after the previous owner fell into administration.

In the Pavlodar region, together with an investor from India, they plan to build a new plant.

The ferrosilicon will be mainly exported, the Interfax news agency reported the ministry as saying.