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Bushveld Minerals

Bushveld Minerals advances VRFB plans through Enerox deal

Aim-listed Bushveld Minerals’ 84%-owned subsidiary Bushveld Energy has signed a term sheet agreement with CellCube Energy Storage Systems to acquire all issued shares in Enerox for €11-million.

A Bushveld Energy-led consortium has been granted exclusivity until the end of February 2020 to complete due diligence and negotiate definitive acquisition documents.

Austria-based Enerox is a researcher, developer, manufacturer and distributor of vanadium redox flow batteries (VRFB).

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.