Bushveld Minerals - Investment in Enerox
BMN Tue, 06 Apr 2021, 09:00am 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
Bushveld Minerals, CEO, Fortune Mojapelo provides an update following their most recent announcement. Bushveld, along with other investors, are investing US$30 million into Enerox, which is a leading Vanadium Redox Flow Battery manufacturer in order to provide the company with capital required to increase capacity to 30MW.