Vanadium sustains the strength of steel at high temperatures for prolonged periods and is therefore an essential addition for many steels used in the power generation sector. For over fifty years of electric power generation, the stability of vanadium carbides at high temperature has formed the basis for the successful operation of many grades of steel used in most of the critical parts of steam turbines and boilers.
During this period typical steam temperatures have increased enabling the efficiencies of the plants to increase. And attempts are continuing to increase the efficiency of electric power generation from fossil fuels by increasing steam temperatures. Various types of steel have been used for headers, superheater tubes, rotors, casings and blades to resist creep, corrosion and fatigue, and vanadium has been employed in a large proportion of the steels specified in Europe, North America and other parts of the world.
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.