https://www.miningweekly.com
Africa|Energy|Mining|PROJECT|Resources|Steel|Storage|Maintenance|Products|Operations
Africa|Energy|Mining|PROJECT|Resources|Steel|Storage|Maintenance|Products|Operations
africa|energy|mining|project|resources|steel|storage|maintenance|products|operations

Bushveld finalises Vanchem acquisition, on track with yearly guidance

7th November 2019

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Aim-listed vanadium producer Bushveld Minerals on Thursday announced that all outstanding conditions to the Vanchem and Ivanti acquisition had been fulfilled, effecting the $53.5-million transaction.

Bushveld Minerals acquired the Vanchem plant from Vanchem Vanadium Products (VVP) – a subsidiary of Duferco Vanadium Investment Holding. The company also acquired South African Japan Vanadium Proprietary – a subsidiary of VVP – and all shares of Ivanti Resources from Duferco Participations Holding.

Bushveld Minerals’ South African subsidiary Bushveld Vanchem Proprietary will take over VVP’s existing senior production team, which will provide operational stability while Vanchem is integrated into Bushveld Minerals.

The company has appointed André Strydom GM of Vanchem.

The Vanchem team will complement the Vametco team's skills and knowledge, which will support cross-pollination of vanadium expertise and experience, as well as unlock multiple synergies across Bushveld Minerals’ Vametco, Vanchem and Mokopane operations.

“The acquisition places the company in an advantageous position to offer an attractive and diverse suite of vanadium products capable of servicing the steel and chemical sectors and the burgeoning energy storage market. We are now able to fine-tune the plan for these assets and then provide, in due course, a comprehensive strategy to our stakeholders.

“As we come towards the end of 2019, we have laid the groundwork for a strong 2020, which will see Bushveld Minerals strengthening its competitive position as the leading vertically integrated primary vanadium producer,” commented Bushveld Minerals CEO Fortune Mojapelo.

Meanwhile, Bushveld Minerals produced 561 t of Nitrovan magnetite concentrate in the third quarter, which was 24% less than the 742 t produced in the second quarter, owing to planned maintenance.

The maintenance programme was completed in 22 days, and two days ahead of schedule.

Subsequent to the implementation of the maintenance programme and in line with the company’s transformational programme, Vametco has completed the initiatives to increase crusher and mill availability, increase throughput rates, increase kiln availability and hourly feed rate, increase recoveries and improve leach plant recoveries.

Vametco is on track to meet its production guidance of between 2 800 t and 2 900 t for the full-year.

The company is finalising the required documentation to execute the mining right of the Mokopane vanadium project and will publish a maiden mineral resource estimate for the Brits vanadium project along with its fourth quarter operational update.

Bushveld Minerals’ mineral resources and processing facilities are all situated within the Bushveld Complex in South Africa.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Hyphen, Eva mine, ferrochrome price make headlines
Hyphen, Eva mine, ferrochrome price make headlines
27th March 2024
Resources Watch
Resources Watch
27th March 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.141 0.173s - 109pq - 2rq
Subscribe Now