Bushveld lowers FY output guidance

9th November 2018

By: Tasneem Bulbulia

Senior Contributing Editor Online


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Integrated primary vanadium producer Bushveld Minerals has lowered the full-year production guidance for its Bushveld Vametco subsidiary downwards to between 2 600 t and 2 650 t, from the previously expected 2 850 t to 3 000 t.

This is as a result of the impact of industrial action at the operation and an unplanned seven-day kiln maintenance programme.

The operation produced 537 t of vanadium in the form of Nitrovan in the quarter ended September 30.

This was lower than the 669 t of vanadium produced in the third quarter of the prior year and the 629 t produced in the second quarter of this year.

The company continues to progress the operational improvement initiatives to enhance its productivity and achieve maximum throughput.

It has completed 13 exploration drill holes as part of an initiative to increase geological confidence and grade control of the ore mined at Vametco.

Assay results are expected by December with an updated mineral resource estimate to be published in the first quarter of 2019.

The company has received all assays results for Phase 1 of its exploration programme at the Brits project, which has to date shown positive drilling results.

Sampling results of Phase 2 drill holes are expected to be received in the first quarter of 2019.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online


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