Ferro-Alloy Resources Ltd is a Guernsey-based holding company. The Company’s principal activities are mining, processing and sale of vanadium-containing ores and associated by-products. The Company is engaged in producing vanadium in the form of ammonium metavanadate (AMV), treating purchased concentrates and other vanadium-containing materials. The Company is engaged in the development of Balasausqandiq vanadium deposit, which is a black-shale deposit containing vanadium and valuable by-products - uranium, molybdenum, aluminium, carbon and other rare earth metals. The Company operates a processing plant treating low-grade bought-in concentrates with a production capability of approximately 150 tonnes per annum of vanadium pentoxide in the form of ammonium metavanadate (AMV). The Company’s 100% owned subsidiaries are Ferro-Alloy Products Limited, Vanadium Processing LLP, Energy Metals Limited, Firma Balausa LLP and Balausa Processing Company LLP.