Bushveld Minerals - Issuance of convertible bonds
BMN Mon, 25 Sep 2017, 12:10pm BST
Bushveld Minerals Limited is a low cost, integrated, primary vanadium producer, with ownership of high grade vanadium assets, supplying approximately 3.5% of the global vanadium, which is expected to increase to more than 5% in the near term. The Company's flagship vanadium platform includes a 74% controlling interest in Bushveld Vametco Alloys (Pty) Ltd, a primary vanadium mining and processing company; the Mokopane Vanadium Project and the Brits Vanadium Project. Bushveld Minerals is focused on developing and promoting the role of vanadium redox flow batteries in the growing global energy storage market through Bushveld Energy, the Company's energy storage developer and component manufacturer.
Industry: Basic Resources
Fortune Mojapelo, CEO, provides an update on the issue of up to £8.0 million of unsecured convertible bonds to UK based fund, Atlas Capital Markets Limited. The Convertible Bonds provide the required capital to enable the Company to continue to deliver on its strategy to build the world's largest, lowest cost and most vertically integrated vanadium platform whilst also creating a standalone African focussed tin champion.