Bushveld Minerals (AIM: BMN), a diversified mineral development company with projects in Africa, notes the release by Lemur Resources on the Australian Stock Exchange of the announcement in respect of the acquisition of vanadium assets in South Africa.
Bushveld has a controlling interest in Lemur.
The ASX Announcement is further to the Lemur announcement of 23 July 2015, and advises that Lemur has signed a binding term sheet with Sable Metals and Minerals Limitedwith respect to the proposed acquisition (Acquisition) of a vanadium project in South Africa (Project). The Project comprises three greenfields properties in the North West province of South Africa which are prospective for vanadium and are located in close proximity to the Vametco operations owned by Evraz Group Limited and less than 150km from Evraz Highveld Steel & Vanadium.
Commenting on the acquisition, Bushveld’s CEO, Fortune Mojapelo, said: “We are pleased with this development, which is in line with the increasing focus of the Bushveld Group on developing a globally significant vanadium platform. The acquisition adds an important foothold on the Western limb of the Bushveld Complex, close to substantial, existing brownfield vanadium processing infrastructure. We look forward to developing this asset, along with our primary Mokopane-based project”.
