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Bushveld Minerals

Bushveld enhances liquidity, implements detailed Covid programme

Vanadium producer Bushveld Minerals, which on Monday provided an operational update on Bushveld Vanadium and Bushveld Energy for the three months to March 31, is implementing a detailed programme in response to the Covid-19 pandemic and drawing down its full R375-million of bank debt facilities to enhance liquidity and financial flexibility.

“I’m pleased that these difficult circumstances found Bushveld Minerals in a sound state financially, with a set of quality low-cost production assets,” Bushveld CEO Fortune Mojapelo stated in a media release to Mining Weekly.

The company stated in the first-quarter operational update that it had continued to pay its 500 employees during lockdown, had continued to meet customer orders and was prioritising the protection of its employees and host communities through the rapid implementation of health and hygiene controls in the workplace, protocols for dealing with suspected cases of infection and business continuity measures to minimise the business disruption during the pandemic.

Bushveld Minerals Limited (LON:BMN), together with its subsidiaries, engages in the exploration and development of mineral projects in South Africa. It operates through three segments: Vanadium and Iron Ore, Coal Exploration, and Vanadium Mining and Production. 

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.