Date: Dec 4, 2018
Bushveld Minerals (LON:BMN) is poised to enter the Vanadium Battery market as the miner prepares to diversify the business away from an extraction and processing play.
In a recent operation update, the group who operates primarily in Africa, announced they were on-track to commission the first Eskom vanadium redox flow battery (VRFB) in December 2018.
Bushveld Minerals’ Vanadium has largely been used in the strengthening of steel as an alloy but the metal’s properties makes it an excellent alternative to Lithium in the battery market.
The company awaits results of an Environment Impact Assessment (EIA) for an electrolyte production facility crucial to the production of Vanadium Redox Flow Batteries.
A VRFB creates electricity by storing power in tanks of Vanadium electrolyte then firing the electrolytes through specialist cells to create energy.
