Oracle and Cleantech Announce Amended Royalty Agreement for Gibellini Vanadium Mine Project
On March 20, 2025, Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB: ORLCF) and Cleantech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) announced the execution of an Amended and Restated Royalty Agreement. This agreement amends the original royalty agreement between the two companies, which was signed on August 25, 2021. Oracle holds a 2% royalty on Cleantech’s Gibellini Vanadium Mine Project in Eureka County, Nevada.
Background on the Gibellini Vanadium Mine Project
The Gibellini Vanadium Mine Project is located in Nevada and is being developed by Cleantech. In October 2023, the Bureau of Land Management (BLM) published a Record of Decision approving the Environmental Impact Statement for the proposed mine project. This approval is a significant milestone for Cleantech as it moves closer to commencing construction and eventual production.
Details of the Amended Agreement
The Amended Agreement modifies certain terms of the original royalty agreement. While the specifics of the amendments have not been disclosed, the announcement states that the changes are intended to provide more clarity and certainty for both parties. The Amended Agreement also includes a provision for the parties to consult and negotiate in good faith regarding any future amendments or modifications.
Impact on Oracle and Cleantech
For Oracle, the amended agreement provides continued exposure to the Gibellini Vanadium Mine Project. The Company stands to benefit from the potential increase in vanadium prices, given the growing demand for this critical metal in the energy storage sector. The amended agreement also provides Oracle with a degree of flexibility and certainty, as the terms have been clarified and the parties have agreed to consult and negotiate in good faith.
Cleantech, on the other hand, will continue to develop the Gibellini Vanadium Mine Project with Oracle as a partner. The Company has made significant progress in recent months, securing the necessary permits and approvals to move forward with construction. The amended agreement is expected to provide Cleantech with a more predictable revenue stream, as the royalty payments to Oracle are now more clearly defined.
Impact on the World
The Gibellini Vanadium Mine Project is significant on a global scale, as vanadium is a critical component in the production of steel and in energy storage. The mine is expected to produce approximately 12.5 million pounds of vanadium pentoxide per year, making it one of the largest vanadium mines in the world. The project’s development is expected to create jobs and stimulate economic activity in the region.
Furthermore, the mine’s production will contribute to the global supply of vanadium, which is essential for the production of high-strength steel and in the growing energy storage market. The demand for vanadium is expected to increase significantly as the world transitions to renewable energy sources and electric vehicles.
Conclusion
The Amended and Restated Royalty Agreement between Oracle and Cleantech marks an important step forward for both companies, providing more clarity and certainty regarding the royalty payments for the Gibellini Vanadium Mine Project. The project itself is significant on a global scale, with the potential to contribute to the production of critical materials needed for the transition to a more sustainable energy future.
- Oracle and Cleantech announce amended royalty agreement for Gibellini Vanadium Mine Project
- Amended Agreement provides more clarity and certainty for both parties
- Gibellini Vanadium Mine Project is significant on a global scale, producing critical materials for steel and energy storage
- Project expected to create jobs and stimulate economic activity in the region
