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Bushveld Minerals Limited

(Bushveld Minerals) is an AIM-listed company exploring and developing iron ore and tin projects on the Bushveld Complex in South Africa. The company targets projects with potential for scale and favourable cost-curve positioning in well-understood geographies.

The vision is to open a new frontier in iron ore mining and processing based on the Bushveld Complex in South Africa. The company’s flagship is the Bushveld Iron Ore Project which has a JORC-compliant titanomagnetite resource of 740 million tonnes and the potential to grow it to more than 1 billion tonnes.
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Bushveld Projects Map
Bushveld Iron Ore Project

Comprises two licenses covering 7,409 ha where a JORC compliant open-castable resource of 770 million tonnes (comprising 400 million tonnes Indicated and a further 370 million tonnes Inferred) has been established from a 4.5 km strike length...

Mokopane Tin Project

The Mokopane Tin Project consists of one licence covering 13,422 ha where numerous targets for open-castable disseminated tin resources have been identified. The Company has explored and drilled one target (Groenfontein) and has short-term plans to explore a further four targets...
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project updates

Scoping Study, July 2014

Bushveld Minerals is pleased to present a summary of the Scoping Study for its Bushveld Vanadium Project.
The Scoping Study meets the Company’s criteria for the development of its projects, being: first quartile cost curve position, proven path to near-term production, low capital expenditure and scalability.


Key Numbers:

  • 1 Mtpa ROM, producing 10,350 tpa of V2O5 flakes (using salt roast process)
  • Low capex of US$261.5 m
  • Pre-tax NPV of US$561.9 m and post-tax NPV of US$263.6 m (at 10% discount rate)
  • Pre-tax IRR of 35.6% and real post-tax IRR of 24.1%
  • Low operating costs (~US$5.99 / kg or US$ 2.72 / lb of V2O5 flakes)
  • ~60% operating margins
  • Long life-of-mine: 30 years, exploiting only 58% of the resource
  • Payback: 4 years and 4 months from start of mining

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