Vision Blue Resources has invested in Sinova Global, which is developing a very high-purity quartz mine as well as a state-of-the-art silicon metal processing plant in North America. VBR has committed an initial investment of $50 million to be used for the reopening of the Horse Creek mine and development of the Tennessee Silicon metal processing plant in return for a significant minority stake. The initial investment is staged on the achievement of key operational milestones. VBR has the ability to invest a further US$75 million through secured warrants exercisable over the next one and two years.

Sir Mick Davis has been appointed chairman of Sinova. VBR is in the process of nominating an additional director to the Sinova Board.

Sinova owns and is expanding a world-class deposit of high-purity quartz in British Columbia, Canada. The fully permitted Horse Creek mine has an annual production capacity in excess of 1 million tons of high quality and ultra-high-purity quartz used in high value silica metal production. The company will also be supplying high purity silicon metal from a state-of-the-art metal refining operation, which is under development in Tiptonville, Lake County, Tennessee, and is expected to employee 140 people when in operation.

“Sinova has the potential to become a major new, North American supplier of sought-after high-purity quartz and silicon metal products that are vital to the energy transition,” Davis said. “Sinova is developing a world-class, high-purity quartz deposit and the first new silicon metal plant in the USA in many years, giving it an enviable competitive position.”