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Bushveld submits mining right application for vanadium project

16th March 2015

By: Creamer Media Reporter

  

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JOHANNESBURG (miningweekly.com) – Aim-listed Bushveld Minerals has submitted an application to the Department of Mineral Resources for a mining right for its Bushveld Vanadium project.

Although the application was focused on the company’s vanadium project, it also covered a range of other minerals, including titanium, iron-ore, phosphate and platinum-group metals, besides others.

“We are delighted to reach this important milestone for the Bushveld Vanadium project. Efforts now turn to ensuring that the mining right application is processed expeditiously.

“Meanwhile, the feasibility study on the vanadium project continues apace and the company looks forward to providing updates as it progresses,” CEO Fortune Mojapelo said in a statement on Monday.

The Bushveld Vanadium project is based on the same licence area as the company’s P-Q Iron & Titanium project.

A July 2014 scoping study, which focused on the project’s MML magnetite layer, set out a capital expenditure requirement of $262-million, a pre-tax net present value of $562-million and an internal rate of return of 36%. The study took into account the production of 10 350 t/y of vanadium pentoxide flakes.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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