Bushveld Minerals extends upstream vanadium presence with Vametco acquisition
Date: Dec 5, 2017
Bushveld Minerals will increase its indirect stake in vanadium producer Vametco Holdings to 59.1%, from 26.6% previously, as it acquires a 55% stake in Bushveld Vametco from Yellow Dragon Holdings.
The acquisition, conditionally agreed at the end of November with a value of $11.1 million, will take Bushveld Minerals’ stake in Bushveld Vametco to 100%. Through Bushveld Vametco, Bushveld Mineals will hold a 78.8% economic interest in Strategic Minerals Corp, which itself holds a 75% stake in Vametco Holdings Corp, the owner of the Vametco vanadium mine in South Africa. Vametco holds a 3.5% share of the global vanadium market, and has the potential to increase its vanadium production to over 5,000 tonnes per year within three years, Bushveld Minerals said. Vanadium pentoxide (V2O5) reserves contained at…
