While the majority of current vanadium demand underwritten by the steel industry as an additive to strengthen various grades of steel, a small, yet increasing amount of vanadium demand is being taken up by the global renewable energy market for its use in energy storage batteries.
This will help address the challenges of grid modernisation, renewable energy penetration and resiliency, CHANTELLE KOTZE writes.
The deployment of energy storage batteries has increased over the years and the use of vanadium in energy storage applications doubled to 2.1% of the global vanadium consumption in 2018, says Vanitec CEO John Hilbert.
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.