Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

General mining & base metals

Bushveld’s profits boosted as vanadium price soars

Vanadium is one of the best-performing commodities over the past 12 months and Bushveld is cashing in

Bushveld Minerals LTD (LON:BMN) delivered £62.1mln in revenue during the six months to June 2018.

That translated into profit after tax of £21.1mln, up significantly on the £1.1mln delivered in the corresponding period a year earlier.

WATCH: Bushveld Minerals 'still greatly undervalued' - CEO Fortune Mojapelo

The profits boost came as the company enjoyed its first period of fully consolidated accounts since increasing its shareholding in Bushveld Vametco Holdings from 26.6% to a controlling 59.1% in December 2017, and subsequently to 75% in September 2018.

Vametco is an established vanadium producer and has been benefiting from extremely strong vanadium prices in recent months.

Accordingly, Bushveld had a consolidated cash balance of £26.2mln as at the end of June, and no debt.

Bushveld remains one of the lowest cost vanadium producers in the world.

An expansion programme is underway.

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK