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extraction, though the lower grade makes the process less profitable. In particular, transportation of precursor material can become prohibitively expensive if the grade is too low, as costs scale in $ per unit weight (hence why co-/by-product production is attractive, as it reduces the deadweight fraction). Thus, the burden of the added deadweight must be offset by higher efficiencies, recovery rates, and lower costs in processing the materials. High transportation costs may necessitate the development of processing sites that are mobile and/or co-located with the mine. This is a route many new mines are taking, though it adds significant capital requirements on top of already expensive projects. It should be noted that, beyond the economics of vanadium recovery, there are also a multitude of environmental, health, and safety concerns to be considered in vanadium production processes (e.g., production of pollutant gases in duplex recovery, ecological and geological impacts of building and operating mines, etc.). While such matters are beyond the scope of this work, future research may consider quantifying the associated risks and costs in order to more holistically determine the best paths for vanadium supply chain expansion. Further research and development efforts to mitigate these effects in existing processes are similarly critical, not only to address the direct impact of these factors but also because they, if left unmitigated, have the potential to cause the closure of existing operations as regulations become stricter (as seen recently in China [68]). We recommend works by White et al. and Gao et al. for more information on this topic [45,48]. 4.2 Economic strategies to mitigate price volatility and reduce the upfront cost burden of vanadium While supply scale-up is necessary to augment VRFB deployment and will likely help stabilize the market, there are other potential more-immediate solutions to mitigate volatility of vanadium prices. One tactic is vertical integration, where a corporation owns the vanadium mining and refining company as well as a VRFB or vanadium electrolyte company. While logistics may vary, vertical integration is expected to enable the battery vendor to reduce the impact of vanadium price volatility and plan long-term technology pricing trajectories. While vertical integration may also facilitate lower vanadium prices to the VRFB company, this is not guaranteed and depends on the outlook of the overarching corporation regarding profit allocation. Another layer of vertical integration could easily be incorporated to process and recycle the spent vanadium electrolyte at 81PDF Image | Bringing Redox Flow Batteries to the Grid
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