Bushveld Vanadium’s vision is to become a significant, low cost, integrated primary vanadium producer globally through its owned high-grade assets.
- A primary vanadium platform means having the 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 V2O5 grades and the open-cast mining proposition of Bushveld Minerals’ deposits as well as access to low-cost brownfield processing infrastructure.
- 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:
- Bushveld Vametco: Bushveld Minerals owns 100% of Bushveld Vametco Limited (BVL), which in turn owns a 78.8% share in Strategic Minerals Corporation, the 75% majority shareholder in Vametco Holdings (Proprietary) Limited (“Vametco Holdings”). Vametco Holdings holds 100% of the operating company Vametco Alloys (Proprietary) Limited (“Vametco”). Vametco is an integrated mining and processing plant situated 8km to the north-east of Brits in the North West Province of the Republic of South Africa. Vametco is a primary vanadium mining and processing company with a 142Mt JORC resource.
- Mokopane Vanadium Project: The Mokopane Vanadium Project is a key part of Bushveld Minerals’ vanadium strategy. 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 (1.75%) V2O5 grades. The project is located on the central portion of the northern limb of the Bushveld Complex, the second largest host of vanadium resources in the world. The project is in the Mokopane District of Limpopo Province, approximately 65km west of Polokwane.
- Brits Vanadium Project: The Brits Vanadium Project comprises prospecting rights on several farms adjacent to Vametco. The project includes a mining right under application for vanadium. The project hosts high-grade vanadium mineralisation in several magnetite layers. The mineralisation is outcropping and a continuation of the Vametco deposit strike with similar or higher vanadium grades. The project offers a potential extension of Vametco’s life of mine and presents cheaper near-surface ore for the Vametco plant post acquisition.
Together, the three deposits constitute a total of 439.6Mt JORC resource base, including 55Mt of JORC reserves. The resource vanadium grades are some of the highest primary grades in the world with approximately 2.0% V2O5 (in magnetite). These high-grade deposits are located on the Bushveld complex.