Australian Vanadium (ASX:AVL) secured an additional AU$14.7 million in grant funding for the Australian vanadium project in Western Australia, according to a Thursday filing with the Australian bourse.
The funding came from the federal governmentâs modern manufacturing initiative - manufacturing collaboration stream to help develop vanadium processing infrastructure at the project, the miner said in the filing.
Australian Vanadium has secured AU$24.5 million in payments from the grant, which has a cap of AU$49 million.
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