Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
"A continued focus on operating and cost efficiencies will be largely driven by the further growth in throughput as the company targets a sustainable production run rate of 5 000 t to 5 400 t over the near term, as well as continued focus on efficiencies and cost saving initiatives," the company highlights.
Two key projects for the group are the hybrid minigrid it is implementing at Vametco and the construction of the Bushveld Electrolyte Company (Belco) plant, which is expected to begin operations in the first half of this year.
"The commissioning of the electrolyte manufacturing plant will be a major achievement underpinning the group's vertical integration strategy and opening up a new market for our products," Bushveld says.
Capex for Belco for 2023 is set at $2.3-million to $2.4-million.
Belco is 55%-owned by Bushveld Energy and 45% by the Industrial Development Corporation and the plant, in the Eastern Cape, was designed to produce about eight-million litres of vanadium electrolyte a year.
Belco is undergoing a qualification process with several vanadium redox flow battery (VRFB) manufacturers to use its electrolyte.
VRFBs are used for energy storage.
https://www.engineeringnews.co.za/article/bushveld-delivers-record-production-despite-loadshedding-electrolyte-plant-construction-on-track-2023-01-31
Integrated primary vanadium producer and energy storage solutions provider Bushveld Minerals produced a record 3 842 t of vanadium in the 12 months to December 31 and has set its production guidance for this year at between 4 200 t and 4 500 t of vanadium.
Although production in 2022 was higher than the 3 592 t produced in 2021, output was slightly below the company's revised guidance range of 3 900 t to 4 100 t as loadshedding resulted in about 200 t of lost production at Bushveld's Vanchem processing facility, in Mpumalanga.
Vanchem produced 1 237 t of vanadium in 2022, compared with 1 138 t the year before. Production was impacted on by lower recoveries as a result of Kiln 1's refractory reaching the end of life during the first half of 2022, a slower-than-expected ramp up of Kiln 3 in the first half of the year and electricity loadshedding which negatively impacted on the ramp-up of production at Kiln 3 in the second half of the year.
Bushveld points out that Vanchem and the Emalahleni municipality had, in November last year, agreed a load curtailment solution, aimed at preventing the plant from experiencing total power loss during scheduled loadshedding.
"While we still envisage some impact, it should reduce the effect and enable Vanchem to continue to ramp up towards steady-state production. The company continues to engage other parties, including Eskom, to seek a longer-term solution.
"Furthermore, similar to the Vametco hybrid-minigrid, we are developing battery storage plus renewable energy solutions to supplement the power requirements of Vanchem," the company adds.
It notes that Vanchem's production for 2023 should be higher than in 2022, but cautions that the exact production figures will depend on the consistency of power supply.
Meanwhile, Bushveld's Vametco mine and processing plant, in North West, produced 2 705 t of vanadium in 2022 – exceeding the upper end of guidance of 2 550 t to 2 650 t.
The company expects Vametco's production for 2023 to be in line with that of 2022.
"I am pleased to report a year of production growth and completion of significant capital projects at Bushveld Minerals, despite external challenges related to electricity availability and supply chains," comments Bushveld CEO Fortune Mojapelo.
"On the capital investment front, in 2022 we completed Vanchem's Kiln 3 refurbishment. Importantly, as a result of completion of this project, the capital expenditure (capex) budget for 2023 is primarily related to sustaining capital," he adds.
Group capex for 2023 is expected to be between $9.2-million and $9.7-million.
Bushveld is focused on building a sustainable, cash-generative, low-cost production and processing platform to support the needs of the steel, chemical and energy sectors.
"A continued focus on operating and cost e
So do we have orders?
BELCO
Construction of the BELCO electrolyte manufacturing plant is progressing according to plan with a
targeted annual capacity of 8 million litres of vanadium electrolyte. Each litre of vanadium
electrolyte will contain between 82 and 92 grams of vanadium, with the plant using over 1,100
tons of vanadium oxide equivalent at full production. BELCO is undergoing a qualification process
with several VRFB manufactures to use its electrolyte, for upcoming orders. BELCO is 55% owned
by Bushveld Energy, and 45% by the Industrial Development Corporation.
In the assessment of the FAR RNS today there was a little bit that may be of interest.
https://www.proactiveinvestors.co.uk/companies/news/1004660/today-s-market-view-atlantic-lithium-celsius-resources-empire-metals-and-more-1004660.html
New demand for Vanadium Electrolyte for VRFB storage batteries appears to be driving Vanadium Pentoxide prices higher with ferrovanadium now trading at a large discount to the V2O5 price.
https://www.proactiveinvestors.co.uk/companies/news/1004663/bp-cuts-oil-demand-forecasts-as-clean-energy-investments-soar-1004663.html
BP suggested the Ukraine war has pushed countries to up investment in renewables, as it cut its long-term oil demand forecasts.
BP PLC (LSE:BP.) has cut its long-term oil demand forecasts as countries seek greater energy security following Russia’s invasion of Ukraine last year.
The oil giant suggested the war had boosted the global shift to cleaner, domestic sources of energy, forecasting daily demand for oil to be 93mln barrels a day in 2035, down 5% on last year’s estimate of 98mln, and slightly below 2019 demand, which sat just shy of 100mln barrels.
“The increased focus on energy security as a result of the Russia-Ukraine war has the potential to accelerate the energy transition,” said BP’s chief economist, Spencer Dale.
Investments in low-carbon energy technology surpassed US$1trn for the first time in 2022, up nearly 18% from US$849bn in 2021, according to Bloomberg New Energy Finance research.
However, BP’s forecasts suggest the world is still lagging behind in its efforts to meet 2050 net zero emissions targets and that oil will remain key to the global energy supply.
Bloomberg analysts agreed, commenting: “Global investment in lower-carbon technologies remains woefully short,” if countries are to meet targets.
“By comparison, the world must invest an annual average of US$4.55trn for the remainder of this decade in order to get on track,” they added.
BP’s New Momentum scenario, based on current trends, suggests oil demand will likely plateau in the mid-2020s before gradually falling from 2030, mainly driven by the shift to electric vehicles.
Global emissions will have only reduced by 30% in 2050 from 2019 levels in this case though, instead of the 95% required for net zero.
It added the US Inflation Reduction Act, which largely supports low-carbon technologies, and lessening reliance on liquified natural gas in Europe could be catalysts in accelerating the transition.
In December, the International Energy Agency dubbed the Ukraine war a “decisive moment” for renewable energy in Europe, suggesting it had forced countries to move away from Russian oil and gas.
“The recent energy shortages and higher prices highlight the importance of the transition away from hydrocarbons being orderly” though, BP warned, with the use of biofuels, hydrogen and carbon capture all set to be central, alongside renewables.
I noticed the article as it was re-tweeted by Bushveld Minerals. They may be looking to increase visibility prior to the Mining Indaba or Creamer Media or doing pieces on various companies they've reported on over the years prior to the conference.
"Bushveld Minerals representatives will be attending the Investing in African Mining Indaba, which will be held at the Cape Town International Convention Centre from February 6 to 9. "
https://www.miningweekly.com/article/hybrid-grid-electrolyte-plant-nearing-operation-2023-01-27
https://finance.yahoo.com/news/largo-reports-fourth-quarter-full-113000936.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJbTiZLmEnq9jFNoZ0NsK5o-4x66rkL5uBpDNHBValPB_i3E56cXnTxFMGvXfWZQd-W_JY__ZcLYm8biIzcCo9cmuznv7SQgKCxvM0cTah1X-Zp92eMoycy2AizKqjZlg9OgJz4SS_z3xYMqVvZFOhrEwZx1RE2DAj5AjuqO8Gk_
In Q4 2022, vanadium demand remained steady in the steel and chemical sectors, while the aerospace and vanadium redox flow battery ("VRFB") sectors saw considerable growth; In Europe, average V2O5 prices increased approximately 18% to $9.44 per lb at the end of the quarter, and have risen to $10.08 as of January 20, 2023
Although not related to BMN specifically, and obviously based on these reports has a lot of challenges ahead, but a Steel project close to mokopane could be a boon for getting that project started.
https://www.dailymaverick.co.za/article/2023-01-17-limpopo-bushveld-monster-steel-project-challenged-in-court/
Not sure what the previous figures were but they have been updated as at the end of December 2022
https://www.bushveldminerals.com/capital-structure-shareholder-information/
https://stockhead.com.au/resources/high-voltage-mega-scale-capacity-could-blow-the-lid-off-vanadium-demand-these-advanced-asx-stocks-will-benefit/
Vanadium demand in batteries expected to grow ~10.6% a year between 2021 and 2050
New supply needed from 2029 as demand overtakes supply: WoodMac
“The development of vanadium redox flow batteries for mega scale energy storage is developing very quickly”: Richmond Vanadium Technology
Sorry, didn't realise the formatting was that bad.
----------------------------------------------------------------
I have pleasure in enclosing the Notice of the 2022 Annual General Meeting ("AGM Notice" or "AGM", as the context requires) of Mustang Energy PLC (the "Company") which will be held at 10:00 a.m. on 1 February 2023 at the offices of Keystone Law, 48 Chancery Lane, London WC2A 1JF.
Unfortunately, due to certain timing constraints faced by the Company in 2022 given significant corporate activity in the calendar year, we are only now able to circulate AGM details. On behalf of your board of directors, I wish to extend our apologies to all shareholders for the delay and any inconvenience it may
have caused, which is unintentional. Nevertheless, the Company continues to make significant progress as communicated in our RNS dated 28 November 2022, which detailed the conditional acquisition of an additional interest in VRFB Holdings Limited. Further details relating to this and the pending completion of the Company's reverse takeover shall be announced in due course.
Just copied the first bullet point as not sure the others are of interest. . . the first one is that good either to be honest.
http://www.mustangplc.com/documents/AGM%20Notice%202022-FINAL.pdf
I have pleasure in enclosing the Notice of the 2022 Annual General Meeting ("AGM Notice" or "AGM",
as the context requires) of Mustang Energy PLC (the "Company") which will be held at 10:00 a.m. on 1
February 2023 at the offices of Keystone Law, 48 Chancery Lane, London WC2A 1JF.
Unfortunately, due to certain timing constraints faced by the Company in 2022 given significant corporate
activity in the calendar year, we are only now able to circulate AGM details. On behalf of your board of
directors, I wish to extend our apologies to all shareholders for the delay and any inconvenience it may
have caused, which is unintentional. Nevertheless, the Company continues to make significant progress
as communicated in our RNS dated 28 November 2022, which detailed the conditional acquisition of an
additional interest in VRFB Holdings Limited. Further details relating to this and the pending completion
of the Company's reverse takeover shall be announced in due course.
Didn't look in on the bb over Christmas so not sure if already posted
https://www.argusmedia.com/en/news/2405022-chinas-v-demand-from-nonsteel-sectors-to-rise-in-2023?backToResults=true
I'm assuming the big jump (approx 9%) is due to there being no updates for 2 weeks between before Christmas and today
Europe Vanadium Pentoxide 98% 8.9/lb vs US$8.1/lb
Europe Ferro-Vanadium 80% 36.75/kg vs US$33.75/kg