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Bushveld Minerals

Bushveld Minerals says vanadium supply deficit in 2021 to support $100m expansion

Bushveld Minerals’ $100m, five-year vanadium growth plans could prove decisive as the market was forecast to enter a supply deficit from next year, the company said.

“There is a real opportunity on the supply side,” said Fortune Mojapelo, CEO of the UK-listed firm in an interview today. “There are very few producers of vanadium who can scale up. We see a deficit in vanadium from as nearly as next year.”

Vanadium is used as a hardening agent in carbon steel. Bushveld has also put investment into developing the vanadium redox flow battery, a type of stationary energy storage, by taking stakes in technology development partners.

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.