Vanadium producer Bushveld Minerals has agreed to buy multiple South African production assets for $68 million, it said on Wednesday May 1.
The South Africa-based miner will acquire Duferco Vanadium Investment Holding's Vanchem plant, the ferro-vanadium business of its subsidiary South African Japan Vanadium (SAJV), and all the shares in subsidiary Ivanti Resources. The Vanchem plant is a primary vanadium producing facility, producing vanadium oxides, ferro-vanadium and vanadium chemicals. Bushveld Minerals plans to spend $45 million over a five-year period to refurbish the plant and bring it to a production rate of 4,200 tonnes per year of vanadium from all three kilns. Vanchem is currently producing around 80 tonnes per month using one of the three kilns. The acquisition will support Bushveld Minerals' Mokopane vanadium project development, which...