Bushveld Minerals pegs hopes on energy to drive vanadium demand

As local vanadium producer Bushveld Mineral rides the wave of increased vanadium demand from China, the London-listed junior is also pegging its hopes on massive upside for the metal in the energy sector.

With a high strength-to-weight ratio, vanadium is a favoured input in steel, particularly in China, which has seen recent revisions to its high-strength rebar standard. While China accounted for 42% of overall vanadium demand in 2017, the tighter construction legislation is expected to lift vanadium demand in the country by 30% over the next ten years.

Considering the price of vanadium price grew 72% in 2016, with another 55% price climb in 2018 to date, Bushveld may well have something to crow about.

But vanadium’s – and Bushveld’s – prospects lie not only in Shanghai’s skyscrapers. Bushveld Minerals CEO, Fortune Mojapelo, said in a webinar on Thursday that the group is also pegging its ambitions on Vanadium Redox Flow Battery (VRFB) technology.

Touted as the most developed flow battery currently used in mass commercial operations, VRFB uses a liquid vanadium electrolyte to store energy in separated storage tanks. This differs from conventional batteries, which store energy in the power cell of the battery. VRFB is expected to account for 20% of overall global vanadium consumption by 2030.

According to Bushveld, several features of VRFB makes the technology ideal for utility-scale, long-duration stationary energy storage applications, particularly across Africa: it has long lifespan cycles, offers the lowest cost per kWh when fully used at least once a day and offers 100% depth of discharge.

Vanadium input costs contribute between 30% and 40% of the cost of the VRFB systems which is convenient if, like Bushveld Minerals, you own a vanadium-producing operation.

Click to view all articles for the EPIC:
Or click to view the full company profile:
    Share on facebook
    Share on twitter
    Share on linkedin
    Bushveld Minerals

    More articles like this

    Bushveld Minerals

    Redox Flow Batteries: technologies and market overview

    This webinar, presented by IDTechEx Technology Analyst Daniele Gatti, will provide an introduction to Redox Flow Batteries (RFBs), addressing some of the technologies developed, and giving an overview of the flow battery market.  The increased adoption of renewable

    Bushveld Minerals

    Bushveld eyes delayed JSE debut within 12 months

    Bushveld Minerals, SA’s largest supplier of vanadium, hopes to complete a R1.73bn expansion programme to nearly triple output without calling on its shareholders to fund its plans. Bushveld had delayed its listing on the JSE due to the

    Bushveld Minerals

    China now a net importer of vanadium

    China is now a net importer of vanadium, a situation which is expected to persist, Bushveld Minerals CEO Fortune Mojapelo said on Tuesday. Speaking at question-and-answer time after presenting a solid set of financial results for 2019, Mojapelo said in

    Bushveld Minerals

    The coming vanadium battery revolution

    Vanadium: an important role in renewable energy Flow batteries look set to play an important part in the development of the global renewables market, which itself is expected to reach a size of $1.5 trillion by 2025. According

    Bushveld Minerals

    What is Bespoke Storage

    Bespoke solutions are the largest BESS’s, typically over 20 MW/ 100 MWh, either built into existing buildings, or in purpose built “Storage Stations”. Typical examples of such Storage Stations are the 15MW/ 60MWh system built by Sumitomo in