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Bushveld Minerals hits record in September at Vametco

Bushveld Minerals has also completed the acquisition of Vanchem for a total consideration of US$53.5mln.

Bushveld Minerals Limited -
Vanadium is used to harden steel

Bushveld Minerals Limited (LON:BMN) achieved record output from its vanadium arm Vametco in September after a series of upgrades to the plant.

Vametco upgraded the crusher and mill and kiln availability, which increased recoveries and leach plant efficiency.

Disruption from the work meant production dropped 24% to 561metric tonnes (mtV) in the three months to September, but Vametco remains on track to meet its production guidance of 2,800mtV to 2,900 mtV for the full year.

September, meanwhile, saw 310 mtV produced, which was a first for Vametco using just magnetite concentrate, which helped nine-month production rise 3% to 1,953 mtV.

Bushveld Minerals has also completed the acquisition of Vanchem for a total consideration of US$53.5mln.

Quick facts: Bushveld Minerals Ltd

Price: 21.75 GBX

LSE:BMN
Market: LSE
Market Cap: £250.77 m
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