LONDON (ShareCast) - (Sharecast News) - Vanadium producer Bushveld Minerals has successfully completed the second phase of its three-phase expansion project at Bushveld Vametco.
Work at Bushveld Vametco, the firm's primary vanadium mining and processing company, was wrapped up on time and within budget, allowing the company to take advantage of high vanadium prices throughout the first half of 2018.

Bushveld said the second phase of its expansion project had increased its annual production capacity from 3,035 mtV, achieved in phase one, to 3,750 mtV, with a capex of $2.5m.

Fortune Mojapelo, Bushveld's chief executive, said, "The completion of phase two of the expansion plan is an important milestone on the company's journey to a 5,000 mtV per annum production capacity and beyond.

"The fact that this has been done in time and within budget is testament to the discipline of the management team which we applaud. We look forward to the commencement of phase three as we seek to maximise throughput of this flagship asset," added Mojapelo.

As of 1200 BST, Bushveld shares had gained 5.81% to 18.57p.

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