Bushveld Minerals Limited (LON:BMN) has announced that 2017 was a transformational year, which saw the company ‘significantly progress’ the development of each of its platforms.
The AIM-listed firm said for the period ended 31 December 2017, it has successfully implemented the acquisition of Vametco, high quality and low-cost vanadium producer, over two phases.
READ: Bushveld Minerals says second phase of Vametco expansion project completed on time and within budget
The company said its subsidiary Bushveld energy completed the studies on African VRFB demand and global electrolyte demand, in partnership with the Industrial Development Corporation.
And Lemure Holdings signed Memorandum of Understanding with Sinohydro Corporation Limited for joint development and funding options for the Imaloto Power Project in Madagascar.
Ian Watson, non-executive chairman, said: “The successful completion of the Vametco vanadium mine acquisition in December was a landmark transaction for Bushveld, transforming the company from being an explorer to a low cost producer with a strategy to become a leading vertically integrated vanadium producer.”
He added: “The 2018 year promises to be another busy and exciting one for the company as we look to further develop Bushveld's platforms.”