TIDMBMN
RNS Number : 2721V
Bushveld Minerals Limited
05 April 2019
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.
05 April 2019
Bushveld Minerals Limited
("Bushveld", the "Company" or the "Group")
Appointment of General Manager at Bushveld Vametco and Group
Head of Finance
Bushveld Minerals Limited (AIM: BMN), the AIM-listed, integrated
primary vanadium producer which owns high-grade vanadium assets in
South Africa, is pleased to announce the appointment of Bertina
Symonds as General Manager of Bushveld Vametco ("Vametco") and
Hiten Ooka as Group Head of Finance.
Bertina Symonds' appointment combines the roles of CEO and COO
into General Manager for Vametco. Bertina brings over 20 years of
mining and beneficiation experience, most recently as the General
Manager of the Nkomati Nickel Mine owned by JSE-listed African
Rainbow Minerals Ltd, a role she has filled since 2015. Bertina has
a strong leadership, production and commercial background. She
comes with a solid track record in general management, stakeholder
engagement and operations improvement, having successfully
implemented a number of productivity initiatives.
Bertina takes over duties and responsibilities from Malcolm
Curror, who will continue to provide consulting services to
Bushveld. Lyndon Williams is moving to a new role at Bushveld's
Head Office as Group Vanadium Specialist in support of operations
integration and technical support to the Group's product marketing
initiatives.
In addition, the Company is pleased to announce the appointment
of Hiten Ooka as Group Head of Finance reporting to Geoff Sproule,
Finance Director. In this newly created role, Hiten will be
responsible for the Group's financial management capacity,
including but not limited to financial reporting, treasury, tax and
consolidation. Hiten is a qualified chartered accountant with 10
years of financial management experience in mining including 4
years as a group financial manager at Trafigura and 3 years as a
divisional finance director for Eurasian Resources Group, ERG
Africa.
The above changes are a part of Bushveld's new operating model
intended to enhance coordination between Bushveld and its operating
companies, as well as to deepen leadership capacity on its growth
journey to reach production capacity of 10,000 mtV per annum in the
next 3-5 years. This is in addition to the efforts made in the
downstream energy storage industry through Bushveld Energy Limited.
Further appointments will be announced in due course.
The Group's capital allocation and dividend policy will be
outlined in the CY 2018 Annual report.
Fortune Mojapelo, CEO of Bushveld Minerals Limited,
commented:
"An important part of delivering on our growth aspirations is
building sound leadership capacity. The addition of Bertina and
Hiten to the team is excellent news indeed, as is the change in
role for Lyndon.
"I would also like to take the opportunity to thank Malcolm for
his service as CEO of Bushveld Vametco Alloys.
"This is an important year for Bushveld as we implement the
Transformational Programme at Vametco in order to achieve the 2019
targets which we will continue to outline in future updates. We are
confident that with these appointments we will be able to drive
operational excellence across the Group."
Enquiries: info@bushveldminerals.com
+27 (0) 11 268
Bushveld Minerals 6555
Fortune Mojapelo, Chief Executive
Officer
Chika Edeh, Head of Investor
Relations
SP Angel Corporate Finance Nominated Adviser +44 (0) 20 3470
LLP & Broker 0470
Ewan Leggat / Richard Morrison
Jonathan Williams / Richard
Parlons
Alternative Resource Capital Joint Broker
+44 (0) 207 186
Rob Collins 9001
+44 (0) 207 186
Alex Wood 9004
+44 (0) 20 7236
BMO Capital Markets Limited Joint Broker 1010
Jeffrey Couch / Tom Rider
Michael Rechsteiner / Neil
Elliot
+44 (0) 20 7920
Tavistock Financial PR 3150
+44 (0)7977 297
Charles Vivian 903
+44 (0)7785 974
Gareth Tredway 264
Brunswick Financial PR (South
Africa)
Miyelani Shikwambana 27 (0) 11 502 7300
About Bushveld Minerals Limited
Bushveld Minerals is a low cost, integrated, primary vanadium
producer, with ownership of high grade vanadium assets.
The Company's flagship vanadium platform includes a 74%
controlling interest in Bushveld Vametco Alloys (Pty) Ltd a primary
vanadium mining and processing company; the Mokopane Vanadium
Project and the Brits Vanadium Project.
Bushveld's vision is to become a significant, low cost,
integrated primary vanadium producer through owning 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 project developer and
component manufacturer. 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.
While the Company's focus is on the vanadium operations and the
development and promotion of VRFBs it has additional investments in
coal, power and tin.
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.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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contact rns@lseg.com or visit www.rns.com.
END
MSCEAXLSELDNEEF
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April 05, 2019 03:46 ET (07:46 GMT)
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