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Bushveld lodges mining right application for vanadium project

Bushveld lodges mining right application for vanadium project

Bushveld Minerals (LON:BMN) scratched off another milestone in its bid to develop the vanadium project in Limpopo Province, South Africa.

On Friday (March 13), it lodged an application for a mining right to the relevant government authority.

The paperwork is mainly focused on the Bushveld vanadium property, but it also covers a range of minerals including titanium and iron ore and phospate, which are relevant to the company's other projects.

A delighted Bushveld chief Fortune Mojapelo told investors on Monday: "Efforts now turn to ensuring that the mining right application is processed expeditiously.

"Meanwhile, the feasibility study on the vanadium project continues apace and the company looks forward to providing updates as it progresses."

Previously, the firm has said that study was on track to be finished during the first half of 2015.

Studies have already shown the potential for the vanadium project to be one of the world's lowest cost producers with operating costs of US$5.99 per kg.

Bushveld shares are unchanged at 2.45p.

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