Compelling commodity with attractive fundamentals

  • Vanadium demand is underpinned by its use in steel, which is expected to grow at a compound annual growth rate (‘CAGR’) of 2.7 % through 2029
  • Vanadium Redox Flow Batteries (‘VRFBs’) are expected to increase vanadium demand by a CAGR of 6% per year by 2027;
  • Supply is concentrated and constrained and there is limited new supply expected from greenfield projects given the higher barriers to entry;
  • Medium to long-term market fundamentals remain attractive, and existing primary producers such as Bushveld Minerals are best positioned to deliver new supply.

Quality Vanadium Assets

  • Bushveld Minerals’ primary vanadium resources offer significant growth potential. Our ore bodies comprise large, high-grade opencast deposits, with grades of 1.6 – 2.0 % V2O5 in-magnetite, which are among the highest in the world;
  • The Company’s 550 Mt (100% basis) combined resource is one of the largest in the world and is complemented by low-cost, scalable processing capacity;
  • Bushveld Minerals owns 2 of the world’s 4 operating primary vanadium processing facilities and has capacity to scale up production significantly, increasing its share of the vanadium market.

Diverse Product Offering

  • Through Vametco and Vanchem, Bushveld Minerals produces Nitrovan, ferrovanadium, vanadium oxides and vanadium chemicals, which deliver a diversified revenue stream from the steel, chemicals and energy storage markets

Leading Position in VRFB Technology

  • Bushveld Minerals, through its subsidiary Bushveld Energy, focuses on VRFB technology within the stationary storage market. The energy storage market is expected to grow to US$50 billion by 2027

Vertical Integration

  • Bushveld Minerals’ vertical integration strategy allows it to mine, process and manufacture vanadium-based products in a single value chain and provides flexibility to maximise sales, depending on product demand dynamics;
  • We are leveraging our low-cost scalable production base to build a leading downstream vanadium-based energy storage platform, to enable us to play a key role across the VRFB value chain;
  • Vertical integration is key, not only for strengthening the vanadium demand profile from energy storage, but also for unlocking significant economic opportunities for the Company through a single value chain;
  • The Company’s vertical integration strategy will provide a natural hedge against volatility in the vanadium price, as the Group can supply the steel, chemicals and energy storage markets to maintain its solid position throughout the commodity cycle.

Leadership Team

  • Bushveld Minerals’ experienced leadership team provides a pool of skills and depth of experience that will enable it to achieve its targets;
  • The team has the necessary vanadium mining and processing experience to ensure targets are achieved;
  • The management team has a proven track record of value-creating transactions that have generated strong returns for shareholders;
  • Board composition is constantly reviewed to ensure strong corporate governance.

Governance

  • Bushveld Minerals is committed to high standards of corporate governance and applies the Quoted Companies Alliance Corporate Governance Code;
  • The Company continuously reviews its governance policies and is committed to improving its practices over time.

Sustainability – value beyond compliance

  • Bushveld Minerals is dedicated to maintaining sustainable mining and processing practices across all of our operations and projects. This includes ensuring our employees enjoy a healthy and safe working environment, that we operate in an environmentally and socially responsible manner, and that we add value to all stakeholders with whom we work;
  • The Company actively promotes the principles of the circular economy, developing the technical and commercial parameters to ensure that vanadium contained in VRFBs is re-used. VRFBs are one of the key solutions to integrate renewable energy globally and accelerate the rate of the energy transition.

Shareholder Returns

  • Bushveld Minerals is committed to delivering attractive returns to its shareholders. We apply a consistent and disciplined approach towards capital allocation to manage the Group’s growth initiatives.

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Registered Office | Oak House, Hirzel Street, St Peter Port, Guernsey, GY1 3RH

Principal Operating Address | 2nd Floor, Building 3 Illovo Edge Office Park 5 Harries Road, Illovo Johannesburg, 2116, South Africa

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