Bushveld Minerals Set To Boost Vanadium Production To Over 5,000 Tonnes Per Year

Bushveld Minerals Limited (AIM:BMN, OTC:BSHVF) said it produced 2,657 metric tonnes of vanadium (mtV) from its South African operations during the nine months to 30 September 2022.

Weighted average production cash costs rang in at US$28.9 per kilogramme of vanadium and full-year guidance of between 3,900 mtV and 4,100 mtV is being maintained.

In addition, Bushveld said it remains on track to achieve an annualised steady-state production run rate of between 5,000 mtV and 5,400 mtV per year by the end of 2022.

“I am pleased to report a solid production update for the quarter to end-September, reflecting continued stability at Vametco and further ramp-up at Vanchem’s Kiln 3,” said Bushveld chief executive Fortune Mojapelo in a statement.

“Despite ongoing power supply issues, the ramp-up at Kiln 3 has seen monthly production more than double from July’s production. I am pleased to report that as a result of Kiln 3, total production at Vanchem has increased by 83% compared to the previous quarter,” he added.

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