Bushveld has one of the largest, high-grade primary vanadium resource bases in the world. The Company’s vanadium resource comprises of three mineral assets: Vametco, Brits and Mokopane. It also has two processing facilities: Vametco and Vanchem. All of these assets are situated in South Africa.
Bushveld Minerals’ large high-grade resource base and processing facilities comprise:
1. Vametco (Integrated mine and processing facility)
Vametco is a primary low-cost vanadium mining and processing operation, using the salt roast beneficiation process, with a 185.5 Mt JORC-compliant resource, including 47.4 Mt in reserves, with in-magnetite vanadium grades averaging 2.0 % V2O5 and a life of mine of more than 30 years (details can be found in the Minerals Resource and Reserves section of this report).
The Vametco mine is an opencast mine along a strike of approximately 3.5 km. Vametco produces a steel-alloying vanadium carbon nitride product, called Nitrovan.
Brits includes prospecting rights and a mining right under application on farms adjacent to Vametco. The mineralisation is outcropping and a continuation of the Vametco deposit. The Maiden Resource Statement published in July 2019 and JORC compliant Competent Person’s Report published in January 2020 showed an aggregate Inferred and Indicated Mineral Resource distributed across the three seams (the Lower, Intermediate, and Upper Seams) of 66.8 Mt at an average grade of 1.6 % V2O5 in-magnetite, which is among the highest grades in the world.
Brits has the potential to supply additional feed tonnage for the Vametco plant, and if required, concentrate feed for Vanchem.
3. Vanchem (Processing facility)
Vanchem is a primary low-cost vanadium processing facility. It uses the salt roast beneficiation process, producing approximately 80 mtV per month (approximately 960 mtVp.a.). Vanchem has three roasting kilns and associated leaching facilities, a vanadium chemical facility, a vanadium pentoxide flake plant, two ferrovanadium convert plants – an electric smelting and an alumino-thermic smelting facility. Vanchem produces vanadium pentoxide, ferrovanadium, vanadium chemicals and it is capable of producing vanadium trioxide.
4. Mokopane (Project)
Mokopane is one of the world’s largest primary vanadium resources, with a 298 Mt JORC-compliant resource, including 28.5 Mt in reserves and a weighted average grade of 1.4 % V2O5 in-whole rock and 1.8 % V2O5 in-magnetite. Mokopane is intended to become a primary source of feedstock for Vanchem. The long-term plan remains to develop Mokopane into a standalone integrated mine and processing plant.