Vanadium is a silvery-grey metal produced in four countries: Brazil, South Africa, China, and Russia. The metal can be obtained by separating it from about 65 minerals such as patronite, roscoelite, carnotite, vanadinite, and mottramite. It can also be obtained from coal and petroleum. Vanadium possesses good structural strength. It is also ductile and harder than most metals, including steel. It is also resistant to corrosion. The chemical properties of vanadium act as major drivers of the vanadium alloy market. However, the market also has a few restraints. Difficulty in extraction of vanadium and its availability in a limited number of countries are hampering the vanadium alloy market.
Key players operating in the global vanadium alloy market include Tremond Metals Corp., Core Metals Group, Bushveld Minerals, Bear Metallurgical Company, and Gulf Chemical and Metallurgical Corporation.
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.