Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF) has noted a recent media report, published in South Africa on 19 February, which referred to the commissioning having started of the Bushveld Electrolyte Company (BELCO), South Africa's first vanadium electrolyte factory.
The company clarified that whilst cold commissioning of the electrolyte manufacturing facility has commenced, hot commissioning and production is, as previously advised, due to be completed in the first half of this year.
Further, whilst progress is being made in the qualification process with manufacturers to use its electrolyte, the company is not providing any production guidance, at the current time, as production will be informed by sales and off-take contracts with original equipment manufacturers.
Discussions in this regard are ongoing, it added in a statement.