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Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
28 March 2018
Bushveld Minerals Limited
("Bushveld" or the "Company")
Appointment of Michael Kirkwood as Senior Independent Non-Executive Director
Bushveld Minerals (AIM: BMN), the integrated vanadium producer with additional investments in coal, power and tin, is pleased to announce the appointment of Michael J. Kirkwood as Senior Independent Non-Executive Director effective as of the 1st April 2018.
Michael Kirkwood is a highly experienced and respected former international banker, having worked at the highest levels of Citigroup during his 31-year career with the bank. He was latterly UK Country Head and Chairman of the Corporate Bank. He is currently a Non-Executive Director of AngloGold Ashanti Ltd and Chairman of Ondra LLP. Formerly he served as Chairman of Circle Holdings PLC and as a Non-Executive Director on the boards of Kidde plc, UK Financial Investments Ltd, Eros International plc and additionally as Deputy Chairman of PwC's Advisory Board. During his career in finance, he held appointments as Chairman of British American Business Inc., as President and a Fellow of The Chartered Institute of Bankers and as Deputy Chairman of the British Bankers Association.
Ian Watson, Chairman of Bushveld Minerals Limited, commented:
"We are delighted to welcome Michael to the Board. He has extensive expertise both in mining and in finance which we believe will be invaluable to the Company as we continue to deliver our strategy of further developing Bushveld as a global leading integrated vanadium player. We look forward to working with him and benefiting from his immense experience."
Michael Kirkwood said:
"Having completed two very significant transactions last year Bushveld has positioned itself as a leading integrated vanadium player at a time when the energy situation in sub-Saharan Africa should be on everyone's agenda. I believe that Bushveld is uniquely positioned given the assets that it has and, through its subsidiary Bushveld Energy, to become a major player and energy storage solution provider in sub-Saharan Africa. This is an intensely exciting time for the Company and I am delighted to be joining the Board."
Enquiries: info@bushveldminerals.com
Bushveld Minerals | +27 (0) 11 268 6555 |
Fortune Mojapelo, Chief Executive Officer | |
Chika Edeh, Head of Investor Relations | |
SP Angel Corporate Finance LLP | +44 (0) 20 3470 0470 |
Nominated Adviser & Broker | |
Ewan Leggat | |
Richard Morrison | |
Alternative Resource Capital | +44 (0) 207 186 9004 |
Joint Broker | |
Alex Wood | |
Blytheweigh | |
Financial PR | |
Tim Blythe / Nick Elwes | +44 (0) 207 138 3204 |
Gabriella von Ille | +27 (0) 711 121 907 |
Appendix
Michael James Kirkwood, aged 70, is or has been a director of the following companies over the past five years:
Current Directorships | Past Directorships (>5 years) |
AngloGold Ashanti Limited | Circle Holdings (plc |
British American Business Inc. London Scottish International Limited
| Elsenor Limited Eros International plc UK Financial Investments Limited |
There are no other matters to be disclosed in relation to Schedule 2, paragraph (g) of the AIM Rules
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is an AIM listed integrated vanadium producer with additional investments in coal, power and tin.
The Company's flagship vanadium platform includes a 59.1% controlling interest in Bushveld Vametco Alloys (Pty) Ltd a primary vanadium mining and processing company; the Mokopane Vanadium Project and the Brits Vanadium Project. The coal platform comprises the wholly-owned Imaloto Coal Project, which is being developed as one of Madagascar's leading independent power producers. The Company's tin interests are held through its shareholding in AIM listed AfriTin Mining Limited.
Bushveld's vision is to become a significant, low cost, integrated primary vanadium producer through owned high grade assets. This incorporates development and promotion of the role of vanadium in the growing global energy storage market through Bushveld Energy, the Company's energy storage solutions provider. Whilst the demand for vanadium remains largely anchored in the steel industry, Bushveld Minerals believes there is strong potential for an imminent and significant global vanadium demand surge from the fast-growing energy storage market, particularly through the use and adoption of Vanadium Redox Flow Batteries.
The Company's approach to project development recognises that, whilst attractive project economics are imperative, they are insufficient to secure capital to bring them to account. A clear path to production within a visible timeframe, low capital expenditure requirements and scalability are important factors in ensuring a positive return on investment. This philosophy is core to the Company's strategy in developing projects.
Detailed information on the Company and progress to date can be accessed on the website: www.bushveldminerals.com.