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Thanks Olly.
I think I found my answer -
Mark Smith serves as CEO and Chairman of the Board of US Vanadium and was a significant early investor in the Company. The former President and CEO of vanadium-producer Largo Resources Ltd., Mr. Smith has nearly 40 years of experience in the mining and mineral processing industries.
I’m trying to find out how they are going to meet the Cellcube agreement. It is a lot of extra Vanadium. Will they require material from us or Largo?
Ben, I believe they are a spent catalyst extraction outfit. Terry Perles' baby.
I have tried to find out where USVanadium gets it supply from. Anyone know?
The IDC are backing BMN and others to some extent, in order to create the supply chain for the VRFB industry to get established and grow. It must have said to BMN that it would get awarded some business to mitigate the risk that BMN is undertaking in building this plant. The application process seemed rigged to require some battery projects alongside the renewable projects. Even with foresight, business does not like to front costs to new technology. Fission and Fusion, EV chargers, as an example. Usually governments, NGOs or rich individuals fund them initially.
Is USVanadium’s new plant not going to be the biggest outside of china?
Commissioning was due to start after the specialist instal of the chemical making equipment . That commissioning and testing of the purity of products from that equipment is expected to take around 6 months with commercial production starting up and be on line, if all goes well to timescale by end of March 2023.
Exactly, why bother spending money to build an electrolyte plant if you don’t have future contracts
https://www.elidz.co.za/wp-content/uploads/2020/11/ELIDZ-Bushveld-Tender-Drawings-Final-Rev-0.pdf
I reckon 3rd September.
If we are running 6 months behind (pure guess) and the commissioning was due to start 3rd March then I'll go for 3rd September as they will be close to producing electrolyte and can start talking about contracts which must have been agreed in some form or why bother building the plant.
when is it going to benefit we PI's ? that is a far more pressing question right now
100% Original.
Never heard anyone say that before
Looks as though the bottom might be in, famous last words......
Looks like we will still have our main market in the steel world with a new market for VFRB’s crystallising day by day.
14 Apr 2022 - The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2022 and 2023. worldsteel forecasts that steel demand will grow by 0.4% in 2022 to reach 1,840.2 Mt after increasing by 2.7% in 2021. In 2023 steel demand will see further growth of 2.2% to reach 1,881.4 Mt. – google.
The global long steel market size was valued at $476,213 million in 2020, and is projected to reach $731,934 million by 2030, registering a CAGR of 4.1% from 2021 to 2030. Long steel products, also known as long products in the steel industry, refer to steel products such as wire, rod, rail, and bars, as well as different forms of steel structural sections and girders. Bridge which comes under fabricated structural unit are also known as long steel products. Blooms and billets, from which bars, rods, and structural shapes are rolled are termed as products of long steel.
https://www.alliedmarketresearch.com/long-steel-market-A12419#:~:text=The%20global%20long%20steel%20market,4.1%25%20from%202021%20to%202030.
The demand for the world’s most used metal will not fall “en route” to net zero emissions. According to an upcoming report from Rethink Energy, steel use will grow by more than 60% through to 2050, driven by economic development in Asia and Africa. But even as it grows, the steel industry will undergo the largest transformation since its formation, as it replaces its existing coal-heavy methods of production, and heads towards net zero emissions itself.
https://rethinkresearch.biz/articles/global-steel-demand-to-grow-60-through-2050/
By 2050 vanadium could be cheap again as more steel is manufactured from scrap of higher quality than is currently used, however, the next ten years look golden and far enough for me!
All positive stuff, which sooner or later will move the sp out of its rut. VRFB's are coming whether you like it or not and BMN is one of the few companies in the world that will benefit substantially from it. How much more positive can you be? Everything is however taking materially longer than I would like and with far less communication from the BoD than I would like. I don't want a weekly commentary, but in this industry up dates between quarterly reports would be useful
https://www.miningweekly.com/article/bushvelds-vrfb-value-chain-to-benefit-the-economies-of-several-provinces-2022-05-25
Vanadium producer Bushveld Minerals’ strategy to establish itself in all stages of the vanadium redox flow batteries (VRFBs) value chain will benefit the local economies of three of South Africa’s provinces, claimed Bushveld Minerals subsidiary Bushveld Energy business development manager Neo Kgatuke at the Mpumalanga Energy Summit in eMalahleni, Mpumalanga, on May 25.
The company’s vanadium processing plant Vanchem is also located in eMalahleni.
Bushveld Energy is also building a vanadium electrolyte production plant in partnership with development finance institution the Industrial Development Corporation.
The plant will be the largest plant of its kind outside of China and is under construction in East London, in the Eastern Cape.
Kgatuke said each of these plants were sources of jobs and local procurement for their respective local economies.
VRFBs are a necessary part of the just energy transition, providing large-scale energy storage capacity of the type required for the storage of energy when, for example, solar and wind energy fails to generate during periods of no wind or sunshine.
“Stationery storage applications are critical for energy security in municipalities and large cities, and Bushveld Energy provides viable energy storage solutions. Our solutions allow them to store electricity from all sources, for use when it is most needed by residents,” Kgatuke concluded.