Bushveld Minerals (LON:BMN) is poised to enter the Vanadium Battery market as the miner prepares to diversify the business away from an extraction and processing play.
In a recent operation update, the group who operates primarily in Africa, announced they were on-track to commission the first Eskom vanadium redox flow battery (VRFB) in December 2018.
Bushveld Minerals’ Vanadium has largely been used in the strengthening of steel as an alloy but the metal’s properties makes it an excellent alternative to Lithium in the battery market.
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.