Bushveld Minerals: Scaling up Production at Enerox to 30MW by 2022
Bushveld Minerals Limited has announced that a consortium of investors in Enerox Holdings Limited (‘EHL’), which wholly owns Enerox, is investing US$30 million to scale up production capacity to 30MW by 2022. Bushveld Energy has an indirect interest in Enerox of 25.25% through VRFB Holdings Limited which owns a 50% interest in EHL. Bushveld will contribute US$7.5m paid in March and April.
Bushveld Energy has monetised a portion of its Invinity holding and received approximately US$8.8 million. This decision “…is no reflection of any diminishing faith in the potential of the company…Our decision is rather informed by our conservative capital allocation strategy across the Group.”
In the clip below, CEO Fortune Mojapelo outlines Bushveld’s operations, business strategy and the market for Vanadium
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