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.