Considered a rare earth metal, the alloy vanadium is used in the production of steel, aluminum and titanium; which is a critical component to the aerospace industry. Currently, 98% of the world’s commercial production comes from South Africa, Russia and China. The mine, Gibellini Vanadium Project is located approximately 27 miles south of Eureka, Nevada and is expected to commence commercial operation in 2022; subject to regulatory approvals. Anticipated to provide approximately 50% of the US current requirements, producing 10 million pounds. Silver Elephant Mining Corp (ELEF) commenced trade in March and anticipates employing hundreds, with a mining lifespan of 13 to 15 years.
We see here one of the benefits of this current Trump administration, fast tracking, as well as recognizing the importance of critical minerals. In 2017 President Trump issued Executive Order 13817, “A Federal Strategy to Ensure Secure and Reliable Supplies of Critical Minerals,” which directed the Secretaries of Interior and Commerce to lead the development of a government-wide strategy to protect and expand access by U.S. manufacturers and suppliers to necessary critical minerals. In turn, the Secretary of the Interior issued Secretary’s Order 3359, “Critical Mineral Independence and Security”, leading to the development of the final critical minerals list in May 2018.
Vanadium is considered toxic in high dosages to individuals; however scientists have noted that trace amounts are consumed daily and appear to be essential in overall bone structure and strength. Foods such as mushrooms, black pepper, parsley, dill weed, shellfish, beer, wine and grain contain vanadium. When we eat a balanced diet, we consume just 0.01 milligrams per day, and this is more than enough for our biological needs. Some studies suggest that vanadium may lower blood sugar levels and improve insulin sensitivity in patients with type 2 diabetes; this according to the University of Maryland Medical Center.
Independence from market fluctuations and self sustaining abilities will be achieved through the conscientious development of these rare earth minerals, of which the state of Nevada has a vast wealth.