Lemur Resources - Acquisition of Vanadium Assets

RNS Number : 0897W

Bushveld Minerals Limited

14 August 2015

 

14 August 2015

Bushveld Minerals Ltd

("Bushveld" or the "Company")

Lemur Resources - Acquisition of South African Vanadium Assets

Bushveld Minerals (AIM: BMN), a diversified mineral development company with projects in Africa, notes the release by Lemur Resources ("Lemur") on the Australian Stock Exchange of the announcement in respect of the acquisition of vanadium assets in South Africa. ("ASX Announcement")

Bushveld has a controlling interest in Lemur.

The ASX Announcement is further to the Lemur announcement of 23 July 2015, and advises that Lemur has signed a binding term sheet with Sable Metals and Minerals Limited (Sable) (Term Sheet) with respect to the proposed acquisition (Acquisition) of a vanadium project in South Africa (Project). The Project comprises three greenfields properties in the North West province of South Africa which are prospective for vanadium and are located in close proximity to the Vametco operations owned by Evraz Group Limited and less than 150km from Evraz Highveld Steel & Vanadium.

Commenting on the acquisition, Bushveld's CEO, Fortune Mojapelo, said: "We are pleased with this development, which is in line with the increasing focus of the Bushveld Group on developing a globally significant vanadium platform. The acquisition adds an important foothold on the Western limb of the Bushveld Complex, close to substantial, existing brownfield vanadium processing infrastructure. We look forward to developing this asset, along with our primary Mokopane-based project".

The full announcement can be viewed here

http://www.asx.com.au/asxpdf/20150814/pdf/430hslwq8fs34y.pdf

Contact

For further information on Bushveld please visit http://www.bushveldminerals.com  or contact:

Bushveld Minerals Fortune Mojapelo	[phone]
Strand Hanson Limited Andrew Emmott / James Harris Warren Pearce / Scott McGregor	[phone] [phone]
Tavistock Jos Simson/ Nuala Gallagher	[phone]

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Notes to the editor

Bushveld Minerals Limited is a mineral development company with a portfolio of vanadium-and titanium bearing iron ore and tin assets in Southern Africa.

The Company owns the Bushveld Vanadium Project, Bushveld Iron Ore Project and Mokopane Tin Project, located on the northern limb of the Bushveld Complex, South Africa. In addition, Bushveld has a controlling interest in Lemur Resources (ASX: LMR), that owns the Imaloto coal project in Madagascar.

Bushveld was admitted to the AIM of the London Stock Exchange in March 2012.

 

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