Bushveld Minerals set to benefit from higher Vanadium price
Date: Aug 29, 2018
Bushveld Minerals (LON:BMN) is set to benefit from a higher average Vanadium price when it reports half year results in the coming months.
Ferro-Vanadium price are up over 150% in the past year as recorded by the Metal Bulletin which is set to boost revenue achieved from Bushveld’s Vametco mine in South Africa.
Vanadium is used in alloys with engineering applications due to its durability. More recently has been applied to power storage as a possible alternative to Lithium, presenting the potential for significant demand in the coming years.
In a recent Operational Update the mining company said total production guidance for the year had been lowered to 2,850 and 3,000 mtV. Despite the lowering of guided production, the higher end of this range would represent a 13% jump on 2017 production.
