Bushveld Minerals is a South African company with three divisions. Bushveld Vanadium has a controlling stake in Vametco, who own a mine north of Pretoria that produces magnetite, which contains a few per cent vanadium peroxide. Two other vanadium prospects are being investigated (Mokopane and Brits). Bushveld Energy is building a facility in East London with the state-owned financier Industrial Development Corporation (IDC) and USA-based UniEnergy (UET0 to process the mine output into a vanadium electrolyte suitable for Vanadium Redox Flow Batteries (VFRBs). The goal is eventually to produce the complete VFRB battery. The third division, Lemur Holdings, has a licence to mine coal and generate power in Madagascar.
Exchange: London AIM (BMN)
Financial Data from Exchange website: LSE summary
Recent Financial Report: Interim results to June 2018
Until 2017 Bushveld was a mineral explorer investing in various mining ventures including coal, tin and vanadium. In 2017 the company decided to invest primarily in vanadium and started to acquire a controlling interest in Vametco, reaching 75 per cent by September 2018. It also decided to invest in the manufacture of VFRBs and the electrolyte used by them, which is a large part of the cost.
Principal Operating Address:
5 Harries Road,
Illovo Edge Office Park 2nd Floor,
Tel: +27 (0) 11 268 6555
Fax:+27 (0) 11 268 5170
18-20 Le Pollet,
St Peter Port,
Non-Exec Chairman: Ian Watson
CEO: Fortune Mojapelo
Short description: Mining vanadium and flow batteries
Fields of Interest: Energy Storage