Bushveld Vanadium’s vision is to grow into one of the world’s most significant, lowest cost and most vertically integrated companies comprising low cost primary vanadium production.
- A primary vanadium platform means having one of largest high-grade primary vanadium resource base and the largest primary vanadium production in the world.
- Low cost means targeting the lowest cost position on the vanadium production cash cost curve, leveraging the high in-situ and in-magnetite V205 grades and the open-cast mining proposition of Bushveld Minerals’ deposits as well as access to low-cost brownfield processing infrastructure. The Company’s vanadium assets are either positioned in the first quartile or show the potential for first or second quartile cost positioning. Vametco, the Company’s flagship asset is one of the lowest cost primary producers while enjoying some of the highest grades. The Company’s strategy is for the assets to be in a position of generating cash in every phase of the commodity cycle.
- A vertically integrated primary vanadium platform means development of downstream operations beyond production of end-use vanadium products to also include development and deployment of vanadium applications in the energy storage market, where Bushveld intends to manufacture vanadium electrolyte and to assemble large-scale VRFBs.
Bushveld Vanadium comprises three key assets:
- The Vametco Mine & Processing Plant (“Vametco”) in Brits, North West Province. Vametco is a low cost primary vanadium mining and processing company with a 142.4 Mt resource. Vametco produces a trademark vanadium product, Nitrovan® as well as modified vanadium oxide (MVO). In 2017, Vametco’s production capacity was successfully expanded to 3,035 mtV. Bushveld owns an effective controlling interest of 59.1%.
- The Brits Vanadium Project in Brits, North West Province. This is a strike extension of the Vametco mine and whose resource quantum is in the process of being established. The Company‘s interest in the asset ranges between 51% and 74%, through three different companies.
- The Mokopane Vanadium Project in Limpopo Province. The project comprises one of the world’s largest primary vanadium resources with a 298Mt JORC resource and high in-situ (1.4%) and in-concentrate (1.7%) V205 grades. The Company owns an effective interest of 64% in the project.
Together, the three deposits constitute a minimum total of 439.6 Mt JORC resource base, including 55 Mt of JORC reserves. The resource vanadium grades include some of the highest primary grades in the world. These high-grade deposits are located on the Bushveld Complex, host to the world’s largest primary vanadium resources. The Company continues to search for and evaluate complementary brownfield processing facilities close in proximity to its current resources.
Bushveld Minerals intends to build its core processing capacity around brownfield processing infrastructure close in proximity to its primary vanadium resources. The attraction of brownfield processing facilities lies in the potential for significant reductions in capital expenditure and lead-time to achieve production.