Bushveld Minerals heartened by continued rise in the vanadium price
Bushveld Minerals Limited (LON:BMN) has completed the previously notified essential maintenance at its Vametco asset in South Africa.
The vanadium producer said the maintenance work had affected production in the first quarter, which clocked in at 688 tonnes of vanadium, which was 21.8% lower than the corresponding quarter of 2020 and 28.7% down on the fourth quarter of 2020.
Sales were 27.0% lower year-on-year and 37.1% lower quarter-on-quarter at 788 tonnes, due to lower production volumes.
The company said full-year production is likely to be towards the lower end of its 4,100 – 4,350 tonnes guidance range, adding the caveat that the guidance could yet be affected by Vametco’s challenges in achieving consistent plant performance, the slower-than-expected ramp-up following the maintenance shutdown, the recent industrial action, as well as risks associated with the ramp-up of Vanchem’s first phase refurbishment.
“We recognise that Vametco has underperformed at times and work such as the 35-day maintenance shutdown is expected to improve on the reliability and performance issues experienced in the past. Since the industrial action and ramp-up we have seen a stable period of normalised production levels,” said Fortune Mojapelo, the chief executive officer of Bushveld Minerals.
Between April 16 and April 21 industrial action temporarily stopped production; the dispute has now been resolved.
“Various work streams remain underway to maintain this stability, including maximizing safety and house-keeping initiatives, better managing process system constraints and optimising preventative maintenance programmes,” he added.
“Positively, the vanadium price has continued to rise following a strong start to the year with increased demand in Europe and US on the back of a post-Covid period of growth. As the world continues to open up, we have confidence in the demand side of the vanadium market,” he concluded.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/949469/bushveld-minerals-heartened-by-continued-rise-in-the-vanadium-price-949469.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).