Update: Vanadium focus targets energy storage market
Bushveld (BMN) has announced its Mokopane vanadium pre-feasibility study (PFS). Although the outcome hinges on longer-term vanadium prices (the project is forecast to enter production in 2019), this provides a reasoned approach to vanadium investment not only based on its predominant use as a steel ingredient, but also on the opportunity presented by the nascent energy storage market. With South African vanadium producers struggling against the current low vanadium price, an opportunity may arise for BMN to use excess processing capacity in the area, which could materially reduce its risk profile.
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