BMN walking the walk7 Nov 2019 07:17
as usual BMN has done exactly what it said it would and has pulled off a deal, which in some respects is even more impressive that Vametco. Vametco was a somewhat stranded asset due to the withdrawal of Evraz from all of its South African businesses. In fact Evraz believed that Vametco could not run productively without a feed of Vanadium rich sl-a-g from their Highveld steel plant - as demonstrated by the announcement today Vametco most certainly can and is now on track to produce more than during the times when it was taking sl-a-g as part of the input mix. They are now running solely on locally mined magnetite ore, and at production costs which are no higher than they were.
Furthermore Vanchem is a much more highly diversified chemical processing plant, allowing access to a much wider range of Vanadium products, and premiums over that available purely from FerroVanadium. The 3 rotary kilns there now increases our total to 4, providing very helpful diversification and insurance against any kind of local problems.
Another outstanding day for Bushveld Minerals.