'Ambitious' metal firm moves to island
A COMPANY seeking to exploit vanadium resources in Kazakhstan has migrated from the British Virgin Islands to Guernsey.
Ferro Alloy Resources, whose head office is now at Noble House, Les Baissieres, St Peter Port, moved earlier this year to take advantage of the corporate, tax and administrative benefits Guernsey can offer companies looking to access capital markets, and to bring the company within the UK's Takeover Code.
The company has ambitious plans to become the world's lowest-cost primary producer of ammonium metavanadate, or redcake. Ferro Alloy, through a wholly-owned subsidiary, is the holder of the rights to develop and exploit the Balasausqandiq vanadium deposit in southern Kazakhstan.
Collas Crill assisted the company with its Kazakhstan listing.
'This is a great example of the benefits Guernsey can offer as a jurisdiction for companies such as Ferro Alloy. Guernsey provides a secure yet low-cost jurisdiction for companies looking to raise capital on the international capital markets in order to expand their business or take the next steps in their development,' said senior associate Simon Heggs. 'Ferro Alloy is an incredibly exciting company with the potential to become one of the world's leading suppliers.'
