What it does
It is one of three operating primary vanadium producers, owning two of the world’s four operating primary vanadium processing facilities, currently producing approximately 3,000 metric tonnes per annum, which represents 3% of the global market.
Its target is to organically grow production to more than 8,400 metric tonnes per annum in the medium term.
Bushveld has doubled down on vanadium with the acquisition of Vanchem, which has producing vanadium assets in South Africa plus extensive downstream capability.
How it is doing
Meanwhile Bushveld produced 31% more vanadium in the third quarter of 2020 than the second, due to the lifting of the nationwide lockdown in South Africa.
Production was 37% higher across the nine months to end September 2020 than it was in the corresponding period a year ago, as the Vanchem processing assets were included for the full period. Vanadium sales were also higher.
What the boss says: Fortune Mojapelo, chief executive
"As we head into the final weeks of a very eventful year, I am pleased to report a solid set of third quarter numbers from our two production assets."
“We have maintained our intense focus on these assets throughout 2020 as they are at the core of Bushveld's growth story. Ensuring the health and safety of our people was a key part of this focus, and I would like to thank all of our employees for playing their part in combatting Covid-19 which ultimately resulted in the extremely low infection levels and lack of any significant outbreak at our operations.”
“This stability has allowed us to proceed with our growth plans, supported by the funding that Orion Mine Finance has committed to provide both through the production financing agreement and convertible loan note which was announced in recent weeks."