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Bushveld Minerals plans for long-term vanadium presence

Snapshot

  • Bushveld is a low-cost integrated miner of vanadium
  • Vametco vanadium mine and processing plant in South Africa is currently in phase 2 development
  • Acquired industrial group Vanchem to diversify activities into batteries
  • Set up a battery maker investment platform to create a vanadium 'vertical'
vanadium

Quick facts: Bushveld Minerals Ltd

Price: 21 GBX

LSE:BMN
Market: LSE
Market Cap: £249.92 m
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What it does

Bushveld Minerals Ltd (LON:BMN) is a low-cost, vertically integrated primary vanadium producer.

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

 

In November, Vox Royalty Corp (CVE:VOX) acquired a 1.75% gross sales royalty on Bushveld's high-grade vanadium project in South Africa for US$2mln.

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."

 

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Bushveld Minerals is back to full production, reporting a 31% increase in...

Fortune Mojapelo, chief executive of Bushveld Minerals Ltd (LON:BMN), caught up with Proactive's Katie Pilbeam about the results for the third quarter to end September 2020. Mojapelo talks through the highlights, such as third-quarter production jumping 31% to 1,019 mtV compared to the...

on 26/11/20

2 min read