Duing the six months ended June 30, Aim-listed Bushveld Minerals continued to build on the firm foundation it has established, CEO Fortune Mojapelo said on Monday.
He noted that the integrated primary vanadium producer was “enjoying progress across the group” while establishing new platforms for future growth.
Bushveld reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of $41-million and free cash flow generation of $23-million for the six months under review. These results were achieved during a period of weaker vanadium prices, which were about 14% lower year-on-year.
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.