Vanadium is a peculiar metal in that it naturally exists in no less than four different charge states, which makes it ideal as a battery metal. Its main use however is in steel – adding just one kilogram of vanadium to a tonne of steel doubles the strength of the steel. Vanadium steel accounts for well over 90 percent of vanadium demand. This could change though as vanadium and the technologies that use it will become vital for energy storage in the coming years.
Speaking to the traditional uses of vanadium – as China, India, Indonesia and African countries achieve the rapid economic empowerment of their growing populations, building standards are improving, creating unprecedented demand for quality rebar to adequately reinforce concrete. China’s Belt and Road initiative, and the associated infrastructure required for the direct transport and communications link between Asia, Europe and Africa, provides a prime example of the type of infrastructure build that is calling for vanadium steel.
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.