TIDMBMN
RNS Number : 0548N
Bushveld Minerals Limited
27 May 2022
27 May 2022
Bushveld Minerals Limited
("Bushveld", the "Company" or the "Group")
Appointment of Independent Non-Executive Director
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 David Noko
as an independent non-executive director to the Board of Directors
(the "Board"), concurrent with this appointment, the Company also
announces the retirement of Anthony Viljoen from the Board.
Anthony was a founding member of Bushveld Minerals and played an
instrumental role in Bushveld Minerals' growth and transition from
explorer to producer. Following this transformation in the
business, Anthony focused on developing the Company's tin assets,
which led to them being spun out of Bushveld with the listing of
AfriTin Mining Limited ("AfriTin") on AIM in 2017. Anthony is the
CEO of AfriTin and his retirement from the Bushveld Minerals Board
comes at a time when AfriTin is rapidly developing its large-scale
resources at the Uis Mine in Namibia.
David is highly regarded in the South African and global
business circles and has years of experience both as an executive
and more recently as board member on several prominent companies,
including, Royal Bafokeng Platinum Limited, Harmony Gold Mining
Company Limited, AstraPak Pty Ltd and Platistone Holdings (Pty)
Ltd. He is currently a Non-Executive Director at inter alia African
Rainbow Minerals and Tongaat Hulett, as well as being a Lead
Advisor at his consultancy company, ESG Advisory Ltd. He is also
the Chairman of the Council of the University of the Free
State.
David's career included senior roles at General Electric
Company, Pepsi Cola International, South African Breweries (Pty)
Ltd, De Beers Group and most recently held the position of
Executive Vice President at AngloGold Ashanti until March 2019.
David's appointment follows the appointments, announced on 17
March 2022, of three other non-executive directors, made to ensure
that the Board's composition meets the high standards of corporate
governance expected of London listed companies and reflect Bushveld
Minerals' status as a significant primary producer of vanadium in
South Africa.
Following the above changes, the Board of Bushveld Minerals will
comprise two executive directors (Fortune Mojapelo, Chief Executive
Officer and Tanya Chikanza, Finance Director), an independent
non-executive chairperson, and five independent non-executive
directors.
Anthony Viljoen, founding member and departing Non-executive
Director commented:
"I am extremely honoured to have been part of this exciting
story since the very beginning. Bushveld Minerals started as an
idea between two colleagues who saw numerous opportunities in
Southern Africa's resource space that were not being pursued due to
the lack of any meaningful homegrown junior mining companies at the
time.
"In a little over a decade, the Company has consolidated a large
part of South Africa's, and the world's, primary vanadium
processing capacity and high-grade resources, while also providing
the platform for AfriTin, the company I now lead, to develop into
the tin producer and lithium developer it is today.
"It has been an incredible journey, but it's time for me to
stand back and watch Bushveld Minerals continue to grow while I
focus on the expansion of AfriTin."
Ian Watson, Chairperson of Bushveld Minerals, commented:
" On behalf of the Board, I must thank Anthony for his
significant contribution to Bushveld Minerals over more than a
decade of service. He played a core part in the formation of the
company and in the years hence. As an upstart in the South African
mineral space, Bushveld's fresh approach and nimbleness allowed the
Company to act quickly on opportunities and obtain assets that
today are a great deal more valuable than what was paid for
them.
"It is with great pleasure that I welcome someone of David's
calibre to the Board. As an established, globally significant
vanadium producer, his appointment, and the other recent
appointees, creates a formidable structure which reflects our
ambition to uphold the highest standards of corporate governance,
but also leverage the knowledge and sound advice that these highly
experienced individuals can offer, to the benefit of all
shareholders."
ENDS
Enquiries: info@bushveldminerals.com
+27 (0) 11 268
Bushveld Minerals Limited 6555
Fortune Mojapelo, Chief Executive
Officer
Andrew Mari, Investor Relations
Nominated Adviser +44 (0) 20 3470
SP Angel Corporate Finance LLP & Broker 0470
Richard Morrison / Charlie Bouverat
Grant Baker / Richard Parlons
Tavistock Financial PR
Gareth Tredway / Tara Vivian-Neal/ +44 (0) 207 920
Adam Baynes 3150
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to David Collen Noko, aged 65:
Current directorships and/or Former directorships and/or partnerships
partnerships: (within the last five years):
African Rainbow Minerals Ltd AngloGold Ashanti (Ghana) Limited
Aveng Moolmans (Pty) Ltd AngloGold Ashanti (Iduapriem)
CelaCorp (Pty) Ltd Limited
ESG Advisory (Pty) Ltd Bell Rivers Investments Ltd
Gradesmatch Foundation Oro Group (Pty) Ltd
Gunoma Trading (Pty) Ltd Platistone Gauteng (Pty) Ltd
Matsakanoko Trust Vhatsila Holdings (Pty) Ltd
Tongaat Hulett Ltd
Volta Bridge (Pty) Ltd
-----------------------------------------
Mr Noko does not currently hold any ordinary shares of 1 pence
each in the Company.
There are no further disclosures required under Schedule 2(g) of
the AIM Rules for Companies.
ABOUT BUSHVELD MINERALS LIMITED
Bushveld Minerals is a low-cost, vertically integrated primary
vanadium producer. It is one of only three operating primary
vanadium producers, owning 2 of the world's 4 operating primary
vanadium processing facilities. In 2021, the Company produced
approximately 3,600 mtV, representing approximately three per cent
of the global vanadium market. With a diversified vanadium product
portfolio serving the needs of the steel, energy and chemical
sectors, the Company participates in the entire vanadium value
chain through its two main pillars: Bushveld Vanadium, which mines
and processes vanadium ore; and Bushveld Energy, an energy storage
solutions provider. Bushveld Vanadium is targeting to materially
grow its vanadium production and achieve an annualised steady state
production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a by
the end of 2022, from projects currently being implemented. Beyond
that, pre-feasibility studies, completed in Q4 2021 and currently
under review, are to determine the optimal path to increase
production even further to a steady state production run rate of
between 6,400 mtVp.a. and 6,800 mtVp.a. in the medium-term and to a
steady state production run rate of 8,400 mtVp.a in the long
term.
Bushveld Energy is focused on developing and promoting the role
of vanadium in the growing global energy storage market through the
advancement of vanadium-based energy storage systems, specifically
Vanadium Redox Flow Batteries ("VRFBs").
Detailed information on the Company and progress to date can be
accessed on the website www.bushveldminerals.com
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END
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