Bushveld Minerals secures greater interest in Enerox
Bushveld Minerals is building a strong position across the vertical supply chain for vanadium
Company
LON:BMN
Bushveld Minerals Limited 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's target is to organically grow production to more than 8,400 mtVp.a. in the medium term.
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Bushveld Minerals is building a strong position across the vertical supply chain for vanadium
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The vanadium miner also said sales for the first quarter of 2020 were 1,080mln tonnes, more than double the 508mln sold in the same period a year ago
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Bushveld Minerals is a leading player in vanadium production
Bushveld is one of the world's major producers of vanadium
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Bushveld has built up a strong track record in the vanadium space
The acquisition of Vanchem should lead to production from stockpiles and allow Vametco to begin ferrovanadium production via the processing facility
The consortium signed an initial sale and purchase agreement and acquired, in equal proportions, 24.9% of the Enerox for €150,000
A separate agreement also gives Bushveld a right of first refusal to supply vanadium products to Enerox
Bushveld Minerals has also completed the acquisition of Vanchem for a total consideration of US$53.5mln.
Bushveld will take significant minority positions in OEM groups with strategic involvement such as vanadium sourcing
The vanadium producer said the package of 375mln South African Rand encompassed a 250mln Rand loan and a 125mln Rand credit facility
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Acquiring Vanchem takes it a long way towards being a leading low-cost producer of vanadium products.
The approval allows it to extract vanadium, but also titanium, phosphate, platinum group metals, gold, cobalt, copper, nickel and chrome throughout the project area,