RNS Number: 0406 Z Bushveld Minerals Limited 15 May 2019 Market Abuse Regulation Disclosure. Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation No 596/ 2014 until the release of this announcement.. Bushveld Vanadium Q1 2019 Operational Update.
RNS Number: 6994 X Bushveld Minerals Limited 01 May 2019 Market Abuse Regulation Disclosure. Bushveld Minerals Limited, the AIM quoted, integrated primary vanadium producer, with ownership of high-grade vanadium assets in South Africa, is pleased to announce that it has entered into a Business and Share Purchase Agreement with Vanchem Vanadium Products...
Bushveld Minerals (BMN LN) 26.3, Mkt cap £294m - Vanadium prices look up following recent correction • Ferro-vanadium prices are looking up according to latest price data from AsiaMetals on Bloomberg. • The mid-price for ferro-vanadium in China rose to $51.50/kgV yesterday from a low of $48.5/kgV having started the year at $75/kgV. • Failure to enforce Green Shield environmental regulations and new standards on higher vanadium content in steel may have contributed to the punishment of 163 Chinese officials in Shandong province. • China's Ministry of Ecology and Environment said Shandong officials not only failed to meet guidelines on industrial overcapacity, but also deceived central government inspectors and tried to cover up illegal behavior. • The rise in ferro-vanadium prices may help Bushveld Minerals* shares go higher. Bushveld Minerals sets sights on SA power market (Business Day) *SP Angel acts as Nomad & broker to Bushveld Minerals.
RNS Number: 3577 W Bushveld Minerals Limited 16 April 2019. A second and final Price Monitoring Extension has been activated in this security. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
RNS Number: 3565 W Bushveld Minerals Limited 16 April 2019. The auction call period has been extended in this security by 5 minutes. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom.
Bushveld Minerals (BMN.L) 33.25p £369.29m Bushveld Minerals, integrated primary vanadium producer, with ownership of high grade vanadium assets in South Africa, provided an operational update in respect of Lemur Holdings Limited, the Company’s coal and energy subsidiary that is developing an integrated thermal coal mining and independent power project in Madagascar, for the quarter ended 31 March 2019. Lemur has signed a Project Preparation Finance facility agreement with the Development Bank of Southern Africa for an amount of $1m. The facility will assist in funding the completion of the project development activities and advisory services for the Imaloto Project, thereby enabling Lemur to reach financial close1. Review and sign-off of the power bankable feasibility study has been completed by Sinohydro. Review of opencast mine BFS completed. Optimisation exercise underway to consider the inclusion of underground mining within the development plan. Engineering, Procurement and Construction (“EPC”) contract negotiations for the power plant are progressing. Social and Environmental Impact Assessment fieldwork ongoing and on track to be completed in Q2 CY2019.
Bushveld Minerals* (BMN LN) 33.3p, Mkt Cap £372m – Lemur Holdings update (Bushveld holds 100% of Lemur Holdings) Bushveld Minerals has updated the market on progress at its wholly-owned subsidiary Lemur Holdings through the past quarter. Lemur signed a Project Preparation Finance facility agreement with the Development Bank of Southern Africa US$1m towards completion of the project development activities and advisory services for the Imaloto coal project in Madagascar. Review and sign-off of the power bankable feasibility study (“BFS”) has been completed by Sinohydro. Review of opencast mine BFS completed. Optimisation exercise underway to consider the inclusion of underground mining within the development plan. Engineering, Procurement and Construction (“EPC”) contract negotiations for the power plant are progressing. Social and Environmental Impact Assessment (“SEIA”) fieldwork ongoing and on track to be completed in Q2 CY2019. Negotiations with potential lenders are progressing. The Project Preparation Finance facility is important to Lemur as it provides “at-risk” funding for Lemur so it can develop its Imaloto Project, complete feasibility and reach financial close. Participation should accelerate the due-diligence and approval process for the eventual project finance. Sinohydro has completed its review of Lemur’s power BFS and signed-off on the final report. Phase-1 installed capacity focuses on 30Mw, which site expansion reserved in the design for an additional 30MW Phase-2, to bring the total capacity to 60MW using Circulating Fluidized Bed Combustion and Electrostatic Precipitators for emission control. Initial distance of the transmission line will be 250km, interconnecting the Imaloto power station with Ilakaka, Toliara and Ambalavao. Post Phase-2, the Imaloto project transmission network will cover an addressable market stretching approximately 500km - and will connect Toliara in the west to Fainaranstoa in the east for the first time. Review of the opencast mine BFS has been completed. Lemur has begun to focus on optimising the mix of opencast and underground mine output and an independent consultant, Bara Consulting, has been appointed to conduct the underground mine BFS. Negotiations on an EPC contract are at an advanced stage with signing expected by the end of the second quarter Conclusion: Lemur Holdings appears to be firming up on many of the elements required ahead of financing of its Imaloto coal to power project in Madagascar. The project will take on new value on financing as this is a major milestone for any capital project. *SP Angel act as nomad and broker to Bushveld Minerals
Bushveld Minerals Limited (BMN.L) Announced an operational update of Lemur Holdings Limited (Lemur), the company's coal and energy subsidiary, for the quarter ended 31 March 2019. Lemur has signed a Project Preparation Finance (PPF) facility agreement with the Development Bank of Southern Africa (DBSA) for an amount of $1 million to assist in funding the completion of the project development activities and advisory services for the Imaloto Project in Madagascar. Meanwhile, the review and sign-off of the power bankable feasibility study (BFS) has been completed by Sinohydro. Also, the Social and Environmental Impact Assessment (SEIA) fieldwork is ongoing and on track to be completed in Q2 2019.
RNS Number: 6937 V Bushveld Minerals Limited 10 April 2019 Market Abuse Regulation Disclosure. Bushveld Minerals Limited, the AIM listed, integrated primary vanadium producer, with ownership of high grade vanadium assets in South Africa, is pleased to provide an operational update in respect of Lemur Holdings Limited, the Company "s coal and energy subsidiary...
Bushveld Minerals (BMN LN) 33.5p, Mkt cap £375m – Reshuffle at Vametco STRONG BUY (from BUY) - Target Price 87p (Bushveld Minerals now hold 74% of Vametco and 84% of Bushveld Energy it’s vanadium redox battery unit) Bushveld Minerals report the appointment of a new General Manager at Bushveld Vametco and Group Head of Finance Bertina Symonds is appointed as the new General Manager of Vametco combing the roles of CEO and COO. Bertina brings over 20 years of mining and beneficiation experience, most recently as the General Manager of the Nkomati Nickel Mine owned by JSE-listed African Rainbow Minerals. Bertina is reported to have a solid track record in general management, stakeholder engagement and operations improvement. Bertina takes over duties and responsibilities from Malcolm Curror, who will continue to provide consulting services to Bushveld. Lyndon Williams is moving to a new role at Bushveld's Head Office as Group Vanadium Specialist in support of operations integration and technical support to the Group's product marketing initiatives. Hiten Ooka is appointed as Group Head of Finance reporting to Finance Director, Geoff Sproule and will be responsible for the Group's financial management. Hiten is a qualified chartered accountant with 10 years of financial management experience in mining including 4 years as a group financial manager at Trafigura and three years as a divisional finance director for Eurasian Resources Group, ERG Africa. The changes are part of Bushveld's new operating model intended to enhance coordination between Bushveld and its operating companies, as the company aims to reach 10,000mtV per annum in the next 3-5 years. Our current modelling has Vametco moving to 10,000tpa in 2023. Bushveld is also moving to add value in the energy storage industry through Bushveld Energy where further appointments are to be announced. Group capital allocation and dividend policy will be outlined in the CY 2018 Annual report. It is significant that Malcolm Curror will continue to provide consulting services to Bushveld. Malcolm has been instrumental at Vametco supported by Taff Williams in recent months. *SP Angel act as nomad and broker to Bushveld Minerals
RNS Number: 2721 V Bushveld Minerals Limited 05 April 2019 Market Abuse Regulation Disclosure. Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation No 596/ 2014 until the release of this announcement.. Bushveld Minerals Limited, the AIM-listed, integrated primary vanadium...
Bushveld Minerals (BMN LN) 32p, Mkt cap £364m – Eskom signs US$180m loan for renewable energy expansion STRONG BUY (from BUY) - Target Price 87p CLICK FOR BUSHVELD MINERALS PDF (Bushveld Minerals now hold 74% of Vametco and 84% of Bushveld Energy it’s vanadium redox battery unit) Eskom, the South African state power utility, has secured a US$180m loan facility for the expansion of renewable energy. New Development Bank’s ‘NDB’ COO Xian Zhu signed the deal with the Eskom CFO on Monday. The New Development Bank is a multilateral development bank established by Brazil, Russia, India, China and South Africa. The project will integrate a total of 670 MW of renewable energy into the power utility’s grid.. The news does not include any comment on grid storage which will become an important part of future renewable energy projects. Bushveld Energy is currently running a trial 450kWh vanadium-redox flow battery at an Eskom test site in South Africa. They have also initiated development of a smallish 1MW mini PV grid paired with a 4MWh vanadium flow battery at the Vametco plant. This will supply around 8% of Vametco’s electrical power consumption and in theory, should be sufficient to supply several thousand houses in South Africa. Eskom is preparing to roll-out 1,400MWh of battery storage this year with completion by 2022. Conclusion: The advance of renewable energy in South Africa will create greater need for more battery storage for grid support and balancing. This should be good for Bushveld Energy assuming the Eskom trial supports the use of Bushveld Energy’s vanadium-redox flow battery. *SP Angel act as nomad and broker to Bushveld Minerals
Bushveld Minerals (BMN LN) 40p, Mkt cap £448m – Bushveld Energy commission 450kWh vanadium redox flow battery at Eskom STRONG BUY (from BUY) - Target Price 87p (Bushveld Minerals now hold 74% of Vametco and 84% of Bushveld Energy it’s vanadium redox battery unit) Bushveld Energy report the commissioning of their 450kWh vanadium redox flow battery at the Eskom test site in South Africa. The team have also initiated development of a smallish 1MW mini PV grid paired with a 4MWh vanadium flow battery at the Vametco plant. This will supply around 8% of Vametco’s electrical power consumption and in theory, should be sufficient to supply several thousand houses in South Africa. Bushveld is also working on the development of a vanadium electrolyte production plant starting off with 2t of vanadium for conversion into electrolyte. The work with ESKOM is helping the team prepare to bid on 1,000MWh of energy storage facilities by 2020 and should also enable the move into more complex hybrid energy storage solutions on mini-grid projects. Bushveld now appears well positioned to become a significant energy storage and power provider in Southern Africa with potential to expand into more developed markets which appear to suffer from some remarkably similar issues to that seen in SA. The Cyclone in Mozambique has also knocked out a portion of power available to South Africa making new power generation storage solutions ever more urgent. Ongoing load shedding in South Africa is seen as the greatest single risk to production faced by the local mining sector risking workers being trapped underground if there is insufficient power to run the winders. Bushveld is working with the Industrial Development Corporation ‘IDC’ on their new electrolyte manufacturing facility. This should help proposed hybrid mini-grid power solutions. The Eskom VRFB project should upgrade and expand to a peak output of 450kWh supported by Bushveld Energy and the IDC. Bushveld Energy has now procured 2t of vanadium for conversion into vanadium electrolyte following positive pilot results. The team have significant interest from VRFB manufacturers for vanadium electrolyte suggesting demand to support the installation of a 200MWh electrolyte manufacturing capacity in South Africa. The World Bank Group is committed to US$1bn of battery storage for energy systems in low and middle-income countries which is expected to mobilise an additional US$4bn in concessional climate financing and public and private investments. The programme aims to finance 17.5GWh of battery storage by 2025; South Africa’s draft 2018 Integrated Resource Plan is looking for the development of 15,000MW of new renewable electricity generation by 2040; 9,000MW in peaking generation capacity with provision for alternative technologies (such as battery energy storage) to participate; and a new allocation of an additional 200MW per annum for small scale embedded generation that can include storage. Eskom is preparing to roll-out 1,400MWh of battery energy this year with completion by 2022. Conclusion: Bushveld Energy should prove to be a valuable business unit in its own right over the next few years. The ability to buy vanadium directly from Vametco and then help customers finance the vanadium in electrolyte form should give Bushveld Energy an important edge. The market for VRFB batteries to support renewable energy and grid systems looks set to expand very rapidly assuming the ESCOM trial goes well. Integrating the vanadium – electrolyte – VRFB supply chain could put Bushveld Energy at the forefront of rolling out battery technology to support renewable energy generation systems. *SP Angel act as nomad and broker to Bushveld Minerals
Bushveld Minerals Limited (BMN.L) Announced, in its operational update for its 84%-owned energy subsidiary, Bushveld Energy Limited, that it has commissioned the vanadium redox flow battery (VRFB) project with the South African national power utility Eskom, including site acceptance testing. At completion, the unit will have a peak output of 450 kWh. It has Initiated development of a net 1 megawatt (MW) mini-grid combining solar photovoltaic (PV) generation and energy storage using VRFB technology at Vametco. Progress is done on the development of a vanadium electrolyte production facility, including procurement of two tons of vanadium for conversion into electrolyte and advanced positioning to participate is done in 1,000MWh of opportunities in Africa by 2020.
RNS Number: 0997 U Bushveld Minerals Limited 27 March 2019 Market Abuse Regulation Disclosure. Bushveld Minerals, the AIM listed, integrated primary vanadium producer with ownership of high grade vanadium assets in South Africa, is pleased to provide an operational update for its 84%- owned energy subsidiary, Bushveld Energy Limited.. ·Advanced positioning to...
Bushveld Minerals (BMN LN) 37.3p, Mkt cap £417m – Drill results at Brits vanadium project STRONG BUY (from BUY) - Target Price 87p CLICK FOR BUSHVELD MINERALS PDF (Bushveld Minerals now hold 74% of Vametco and 84% of Bushveld Energy it’s vanadium redox battery unit) Bushveld Minerals report drill results from their Brits vanadium project in the Bushveld region of South Africa. The Brits project lies adjacent to the Vametco open pit mine which is currently mined for its relatively high vanadium-in-magnetite grade. The results from 10 drill holes show a weighted average vanadium V2O5 grade of 0.66% in whole-rock and 1.66% in the magnetite concentrate. ‘A geological trend of decreasing grade in vanadium for magnetite-rich orebodies from west to east in the Bushveld Complex accounts for the marginally lower grades on Brits in comparison to the grades at the operating Vametco Mine.’ The results show the Brits project may be a future source of open-cast vanadium-in-magnetite for the Vametco plant. Bushveld benefits from low-cost open cash mining at the Vametco mine and it is useful to know that low-cost mine production should continue at the adjacent Brits project. This is particularly significant in the event of further expansion at the Vametco process plant. Ferro-vanadium prices pulled back further last week by another 4% to $57.5-61.5kgV in Western Europe (Fastmarkets MB) Vanadium pentoxide prices also fell heavily by 15.9% to $13.25-14.5/kgV in Rotterdam Ferro-vanadium prices also fell 6.4% to $64-67kgV in China The Fastmarkets MB trade log indicates ‘European ferro-vanadium prices remain under pressure; few small volume deals concluded within the new range; end user buying remains limited’. There is weak sentiment in the market and buying remains limited. We retain our Buy recommendation and 87 pence per share target price *SP Angel act as nomad and broker to Bushveld Minerals
RNS Number: 7803 T Bushveld Minerals Limited 22 March 2019 Market Abuse Regulation Disclosure. Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation No 596/ 2014 until the release of this announcement.. Bushveld Minerals Limited, the AIM listed, integrated primary vanadium...
Bushveld Minerals Limited, the AIM listed, integrated primary vanadium producer, with ownership of high grade vanadium assets in South Africa, announces that Fortune Mojapelo, CEO of Bushveld Minerals, attended and presented at the BMO Capital Markets 28th Annual Global Metals& Mining Conference, in Florida, between February 25 and February 27..
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Company Profile

Bushveld Minerals Limited is an integrated vanadium producer supplying more than 3% of the global vanadium with plans to grow this to >5% in the short term. The Company's flagship vanadium platform includes a 59.1% controlling interest in Bushveld Vametco Alloys (Pty) Ltd a primary vanadium mining and processing company which has one of the world's largest high grade primary vanadium resources. In addition, Bushveld Minerals is focused on developing and promoting the role of vanadium in the growing global energy storage market through application in vanadium redox flow batteries.

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18-20 Le Pollet
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St. Peters Port
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