Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF) said it is on track to meet guidance this year with power issues stabilising in the first three months of 2023.
Vanadium production was 943 metric tonnes in the quarter, against 973 mTv a year ago, with costs easing slightly to US$25.9/kgV from US$26.6.
Sales rose to 1,028 mTv (857) as Bushveld used up some of its stockpiles.
Guidance for the full year is maintained at between 4,200 mtV and 4,500 mtV at a cost of US$26.1kgV and US$27.
Fortune Mojapelo, chief executive, said: "We are on track to meet annual group production and cost guidance.
"Vanchem's power curtailment solution with the local municipality announced recently, has so far provided a more reliable feed of electricity contributing to improved operational stability in the months of March and April.
"In addition, securing third-party, low silica feed for [processing arm] Vanchem will support more stable production going forward."