TIDMBMN
RNS Number : 3021O
Bushveld Minerals Limited
01 October 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.
01 October 2019
Bushveld Minerals Limited
("Bushveld Minerals" or the "Company")
Finance Director Appointed
Bushveld Minerals Limited (AIM:BMN), the AIM quoted, integrated
primary vanadium producer, with ownership of high grade vanadium
assets in South Africa, is pleased to announce the appointment to
the board of Directors of Bushveld Minerals of Tanyaradzwa
("Tanya") Chikanza as Finance Director of Bushveld Minerals,
effective today.
Tanya, a qualified Chartered Accountant, has extensive
experience in managing publicly listed companies' relationships
with financial markets. Tanya brings a global and market facing
perspective to her role at Bushveld Minerals through her 30 years
in international equity and debt capital markets, strategy,
corporate finance and audit.
Tanya joins the Company after nine years at Lonmin Plc, the dual
listed (London Stock Exchange and JSE Securities Exchange) platinum
group metals miner recently acquired by Sibanye-Stillwater. As
Executive Vice President: Strategy, Investor Relations and
Communication, Tanya was a key member of the Lonmin Executive
Committee, where she led and participated in the raising of circa
US$1.4 billion in equity, and arrangement of significant debt
facilities. In addition, she oversaw the Company's acquisition by
Sibanye-Stillwater.
Prior to joining Lonmin, Tanya was Executive Director at Smith's
Corporate Advisory in London and Vice-President Corporate Finance
at JP Morgan Cazenove, in London. She started her professional
career as an auditor with Coopers and Lybrand in Harare and is a
member of the Institute of Chartered Accountants of Zimbabwe.
Fortune Mojapelo, CEO of Bushveld Minerals Limited,
commented:
"We are delighted to welcome a person of Tanya's calibre in the
Finance Director position. She has a deep understanding of the
South African mining industry; is versed in the intricacies of
various financial markets, and has experience in engaging debt and
equity investors. She joins at a very important time in the
Company's evolution and will play a significant role as we enter
the next stage of growth and development. We look forward to
working with her as we build Bushveld Minerals into the leading,
innovative company we aspire to be."
Appendix
Tanyaradzwa (Tanya) Tsitsi Wendy Mamie Chikanza (née Matimba),
aged 54, is or has been a director of the following companies over
the past five years:
Current Directorships Past Directorships (<5 years)
None Eastern Platinum Limited (a subsidiary
of Lonmin Plc)
----------------------------------------------
Western Platinum Limited (a subsidiary
of Lonmin Plc)
----------------------------------------------
PetroZim Line (Private) Limited (a subsidiary
of Lonmin Plc)
----------------------------------------------
There are no other matters to be disclosed in relation to
Schedule 2, paragraph (g) of the AIM Rules.
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
Abigail Wayne / Richard Parlons
+44 (0) 20 7236
BMO Capital Markets Limited Joint Broker 1010
Jeffrey Couch / Tom Rider
Michael Rechsteiner / Neil
Elliot
+44 (0) 20 7418
Peel Hunt LLP Joint Broker 8900
Ross Allister / James Bavister
Tavistock Financial PR
+44 (0) 207 920
Charles Vivian / Gareth Tredway 3150
Brunswick Financial PR (South
Africa)
+27 (0) 11 502
Miyelani Shikwambana 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 per cent
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 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.
While the Company's focus is on vanadium operations and the
development and promotion of VRFBs, it has additional investments
in coal, power and tin.
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.
About Vametco
Vametco is located near Brits on the Western Limb of the
Bushveld Complex. The integrated operation comprises a vanadium ore
mine and a processing plant that produces Nitrovan(TM) , a
trademark product sold in major steel markets across the world. The
mine lies adjacent to the Brits Vanadium Project, which will in
future serve as an alternative source of near surface run of mine
(ROM) ore feed to the Vametco plant.
The Vametco mining operation uses open pit bench mining methods
to mine a well-defined orebody. The deposit is continuous with
limited faulting and dips in a northerly direction at approximately
19 degrees.
ROM ore is fed into a primary, secondary and tertiary crushing
circuit, followed by milling and magnetic separation to produce
magnetite concentrates. The magnetite concentrates are fed into the
extraction process which includes the kiln for roasting followed by
leaching and precipitation. Thereafter the precipitated vanadium as
ammonium metavanadate is converted to modified vanadium oxide (MVO)
in rotary calciners. MVO is fed into the mixplant and finally into
the shaft furnaces to produce Nitrovan(TM) .
About Bushveld Energy Limited
Bushveld Energy is a leading energy storage solutions provider,
focusing on the African market. Bushveld Energy recognises that
electricity in Africa intersects paramount potential for social
transformation with an immense commercial opportunity.
Launched in 2016, Bushveld Energy is focused on developing and
promoting the role of vanadium in the growing global energy storage
market through application in vanadium redox flow batteries. Its
near term strategy is to deploy several VRFB systems as part of its
longer term vision to become a significant electricity storage
provider in Africa by 2020, meeting the demand for utility scale
energy storage in Africa by leveraging South Africa-mined and
beneficiated vanadium.
http://www.bushveldenergy.com
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END
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