Bushveld Minerals Limited (LON:BMN), a company which is considering whether to join the Johannesburg bourse, is going to roll out a vanadium-based electricity storage device for Eskom as it diversifies its business risk away from being purely reliant on the steel industry.
AIM-traded Bushveld, which bought the Vametco vanadium producer in SA for $17m as the cheapest entrance into the vanadium market, is targeting the electricity storage market, moving quickly into the supply of large, stationary units, while supplying makers of these units.
SA is host to one of the world’s largest and highest grade sources of primary vanadium, which is primarily used to harden steel, with other supplies coming as a by-product of iron production.