Bushveld Minerals - Corporate Update For the Six Months Ended 30 June 2018
BMN Tue, 09 Oct 2018, 12:00pm BST
Bushveld Minerals is a low-cost, vertically integrated primary vanadium producer. It is one of only three operating primary vanadium producers, owning 2 of the world's 4 operating primary vanadium processing facilities. The Company produced more than 3,600 metric tonnes of Vanadium in 2020. The Company is funded to grow its production to more than 6,800 mtVp.a. by 2025 (almost double the achieved production in 2020), and could, subject to funding, increase its production to more to 8,400 mtVp.a. over the same period. Bushveld Minerals owns a diversified vanadium product portfolio serving the needs of the steel, energy and chemical sectors. Bushveld Minerals participates in the entire vanadium value chain through its two main pillars: Bushveld Vanadium, which mines and processes vanadium; and Bushveld Energy, an energy storage solutions provider. Bushveld Energy is focused on developing and promoting the role of vanadium in the growing global energy storage market through application in vanadium redox flow batteries (VRFBs).
Industry: Basic Resources
Fortune Mojapelo, CEO and Mikhail Nikomarov, CEO of Bushveld Energy provide an update on company operations. In light of solid first half results, Fortune discusses recent acquisitions of Yellow Dragon Holdings and Sojitz as the company approaches the completion of a three-phase Vametco Expansion programme. With a focus on Vanadium, he outlines the company's commercial opportunities to deliver a "substantial, low-cost, vertically-integrated vanadium platform." Having received delivery of the first vanadium redox flow battery from UniEnergy Technologies, Mikhail discusses the company's progress with IDC to build an electrolyte manufacturing plant in South Africa, to be located at Vametco and the East London Industrial Zone.