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www.bushveldminerals.com

https://thepaypers.com/e-invoicing-supply-chain-finance/ifc-nedbank-partner-to-increase-green-financing-in-south-africa--1246368

IFC, a member of the World Bank Group, and Nedbank Limited have partnered to increase financing for renewable energy projects in South Africa.
The partnership is aimed at helping the country transition to cleaner forms of power, reduce greenhouse gas emissions, and create jobs in the renewables sector.

IFC will provide Nedbank Limited, a wholly owned subsidiary of Nedbank Group, with a loan of up to USD 200 million to help it expand its green finance operations and grow its climate portfolio by funding renewable energy projects.

The partnership is part of IFC’s broader objective to develop South Africa’s climate finance market and to support the Government of South Africa’s plan to shift to a lower carbon economy. South Africa has set the goals of reducing greenhouse-gas emissions by 42% by 2025 and diversifying its electricity production to reduce its reliance on coal by 2050.

Nedbank is Africa’s first carbon-neutral bank and in 2019 became South Africa’s first commercial bank to launch a green bond on the Johannesburg Stock Exchange.

IFC estimates South Africa’s climate-smart investment potential across renewable energy and urban infrastructure, including rail transport, electric vehicles, and green buildings, amounts to USD 588 billion through 2030. The government plans to more than double the country’s power capacity by 2030, with renewables making up as much as 20% of the mix.

This is IFC’s third investment dedicated to green finance in South Africa’s financial sector.

https://www.uploadlibrary.com/SPAngel_JohnMeyer/SP_Angel_-_Morning_View_-_Monday_14.12.20.pdf

Industrial metals make new gains as Stimulus funding and EV development drives demand for alloys and battery metals
Lithium carbonate prices rose Rmb4,500/t to Rmb48,000/t last week in China (Platts)
• Lithium Hydroxide prices rose Rmb2,000/t to Rmb50,000/t
• Ferro-vanadium prices twitched higher in Europe and the US last week with traders sensing new demand
o European prices rose 0.8% to 24.9-25.3/kgV (FastmarketsMB)
o US prices rose 2.3% to 10.8-11.2/lbV
o Chinese prices rose 1.9% to 25.5-28/kgV

While looking at the tender website I look at for Bushveld related stuff I noticed the following entry for Waaihoek Battery Energy Storage System on it
https://www.l2b.co.za/Project/Waaihoek-Battery-Energy-Storage-System/26339

When I googled for the Waaihoek Battery Energy Storage System I found this entry on the CES website (I think CES has had Bushvelds environmental impact report on previously for the electrolyte plant).

http://www.cesnet.co.za/proposed-waaihoek-battery-energy-storage

If you look at 1. Waaihoek BESS and Reservoir Draft Basic Assessment Report and search for vrfb within the document it appears to be or has been under consideration. I don't have the time to read it at the moment but the review period ends on the 13/12/20

http://www.cesnet.co.za/assets/01Waaihoek_Draft%20Basic%20Assessment%20Report_Waaihoek%20BESS%20and%20Reservoir.pdf

https://www.uploadlibrary.com/SPAngel_JohnMeyer/SP_Angel_-_Morning_View_-_Thursday_10.12.20.pdf

“Many deposits in the Copperbelt are located in the vicinity of macrostructural features that would have ultimately
had a bearing on deposit formation. At both Fwiji and Muswema, copper bearing fluids are proven to be have
been present. Identifying and targeting of the potential structural traps will be the next steps to locating potential
large-scale metal accumulations.”

Conclusion: The majority of drill holes are intersecting mineralisation at Fwiji and Muswema indicating potential for
significant resource discovery at both prospects. Further drilling is being undertaken to develop knowledge of the
resources and to better direct the ongoing exploration.
Anglo American have completed their technical due diligence and have moved onto the presentation of questions on
corporate due diligence ahead of further negotiations on their potential jv involvement.
We are aware of interesting activity by other major copper miners in Zambia indicating renewed interest in exploration
in the region.

The Vox Markets app just reissued the RNS with the heading within the RNS updated adding the word 'exciting' so it now reads 'Further exciting drill results from Fwiji and Muswema' so obviously disappointed in the sp reaction.

https://www.uploadlibrary.com/SPAngel_JohnMeyer/SP_Angel_-_Morning_View_-_Monday_07.12.20.pdf

Bushveld Minerals* (BMN LN) 12.70p, Mkt cap £146m – Ferro-vanadium prices jumped 5.7% in the US last week
to 10.65-10.85/lbV
• Ferro-vanadium prices rose 1.3% in Europe last week to 24-25.1/kgV (FastmarketsMB)
• The price rises hopefully indicate the recovery of vanadium prices as stimulus driven construction and infrastructure projects start to draw vanadium-bearing structural steel through the supply chain.

https://www.uploadlibrary.com/SPAngel_JohnMeyer/SP_Angel_-_Morning_View_-_Friday_04.12.20.pdf

Bushveld Minerals* (BMN LN) 13.02p, Mkt cap £150m - Invinity Energy Systems placing raises £2.05m for new
Vanadium Redox Flow Battery development
(Bushveld Energy holds 50% Enerox Holdings Limited (50% other investor) which holds 90% of Enerox GmbH along with 8.71% in Invinity, pre the Invinity Energy Systems placing).
• Invinity Energy Systems report placing of £20.5m of shares at 50p/s.
• Bushveld Minerals holds a significant stake in Invinity and has a first right of refusal over the supply of vanadium electrolyte to Invinity VRFB batteries.
Conclusion: The strength of the placing highlights raised interest in Grid scale battery storage and the application of VRFB batteries in this area.

Must have completely missed this as the document is 11th November, I was on holiday though so thats my excuse :)

Not sure if someone posted this yesterday

https://energyandmines.com/2020/12/bushveld-energy-selects-abengoa-for-a-solar-power-plant-with-vanadium-flow-battery-storage/

https://microgridknowledge.com/vanadium-microgrid-mine-abengoa/

I think other than Bushveld saying it passed I'm not sure what else you need.

https://www.miningreview.com/energy/winner-excellence-in-battery-metals-bushveld-minerals/

In 2018, we delivered our first VRFB project in South Africa, a battery with peak power of 120 kW and 450 kWh of peak energy. It passed a series of manufacturer and Eskom site acceptance tests during January and February 2019.

Will they not be waiting until the sp is above 17p before they bother converting them?

https://polaris.brighterir.com/public/bushveld_minerals/news/rns_widget/story/xq6m1lr

https://www.investegate.co.uk/bushveld-minerals-ld--bmn-/rns/general-meeting-results/202011271506218086G/

Bushveld Minerals Limited (AIM: BMN), the AIM quoted, integrated primary vanadium producer and energy storage provider, with ownership of high-grade assets in South Africa, is pleased to announce that all resolutions put to shareholders at the General Meeting held earlier today were duly passed.

Think it probably should be in kg rather than lbs although it would be amazing if true

Invinity Energy Systems (BMN holds 8.71% in Invinity) report a significant number of new continues to report
new VRFB projects. Bushveld have a first right of refusal to supply into Invinity. Invinity‘s latest 8MW project
should use around 40-44t of vanadium in electrolyte representing significant additional demand.
• Vanadium market: China continues to import vanadium with local producers working at full capacity though the
local premium has reduced.
• We expect vanadium imports to rise from here and for this to lift local and global vanadium prices
• Iron ore and steel prices continue to rise in China indicating that local stimulus and other infrastructure programs
continue to drive strong demand growth for structural steel.
Conclusion: Bushveld continues to perform well despite challenges in South Africa. Reports of new VRFB battery
orders by Invinity Energy Systems indicates substantial new demand for vanadium to come through new grid-scale
battery instillations next year. This new demand looks likely to tighten the supply / demand balance with potential to
significantly raise vanadium prices from here.

https://www.uploadlibrary.com/SPAngel_JohnMeyer/SP_Angel_-_Morning_View_-_Tuesday_24.11.20.pdf

Bushveld Minerals* (BMN LN) 12.35p, Mkt cap £141m – New orders from Invinity indicate rising demand for VRFB
Grid storage systems
BUY - Valuation 37.7p
(Bushveld Energy has negotiated to holds 50% Enerox Holdings Limited (50% other investor) which holds 90% of Enerox
GmbH along with 8.71% in Invinity) If no other investors participating then the €3.7m loan will be split between the
Bushveld and the other investor.
Guidance maintained despite severe weather holds back Q3 production at Vametco
• Bushveld Minerals report that a longer than normal power outage caused by severe weather hit the vanadium
production in the refinery at Vametco.
• Guidance: management still expect to make up much of the lost time in the refinery and to meet the lower end of
its full-year production guidance of 3,660-3,950mtV with Vametco production 2,700-2,850 mtV.
• While Nitrovan sales will be hit by the refinery outage the roaster before the refinery produces vanadium AMV
which can be converted into other saleable products using the facilities at Vanchem.
• This gives very fortunate flexibility to group production and should enable the group to meet guidance.
• Q3 Results: Vanadium production rose 28% in Q3 to 725t on the second quarter.
Nine-month production was surprisingly steady at 1,942mtV approximately in line with 1,953mtV last year despite
the lockdown and Covid-19 issues.
• Group production rose 31% to 1,019 mtV including Vanchem on Q2
• Vanadium sales fell 27% to 639mt in the quarter
• The production picture for the nine months to end September looks somewhat better than last year despite the
lockdown
• Nine-month production rose 37% to 2,667 mtV mainly due to the addition of material from Vanchem
• Group sales are 74% higher at 2,987mtV1 for the nine months to end September
• C1 cash costs fell 12% to $18.10/kgV yoy due to the weaker South African rand which was severely impacted by
the fall in mineral exports out of South Africa.
• Cash cost are reported to be 11% lower for the nine-months at US$17.50/kgV.
• Vanchem production rose 39% on Q2 to 294mtV due to the lifting of the nationwide lockdown in Q2 2020.
Production for the 9M 2020 was 725mtV.
• Vanchem remains to track to meet guidance of 960-1,100mtV and cash costs of US$18.40-19.0/kgV.
• Bushveld Energy: Bushveld has formed a special purpose vehicle to work with Invinity Energy Systems named
Vanadium Electrolyte Rental Limited VERL which has signed a contract for electrolyte rental with Pivot Power,
part of EDF Renewables.
• VERL will hold, and rent to Pivot for a period of ten years, the electrolyte in Pivot Power's new Oxford 5MW VRFB
battery.

https://polaris.brighterir.com/public/bushveld_minerals/news/rns_widget/story/ry1k77r

https://www.miningweekly.com/article/green-hydrogen-exploration-offer-best-opportunities-for-south-africas-mining-sector-2020-11-18/rep_id:3650

Bushveld Minerals CEO Fortune Mojapelo also saw great opportunity for South Africa to participate in the battery metals value chain, given its endowment of metals, such as vanadium, nickel and PGMs.

He said the real question was how the country could capture this opportunity.

He emphasised that it was not only about increasing battery metals supply, but also about growing the bigger value chain.

Mojapelo stressed that the energy transition had to be used to benefit from both a supply and resource point of view, as well as the value chain point of view.

In terms of enablers for this sector, firstly, there is the requisite resource base, which the country has, across the various battery metals, Mojapelo explained.

Secondly, there is primary processing infrastructure. He emphasised that this was typically a large capital investment and, therefore, the country must not take for granted that it had this already.

Thirdly, there was expertise, which Mojapelo acclaimed the country also had.

Fourthly, there was the required market, which was critical for building critical mass needed in this space, he said.

Mojapelo indicated that these four enablers could, together with a conducive policy environment, help South Africa’s mining sector take advantage of the battery metals opportunity.