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Bushveld acquires Vanchem plant for US$68M

Vanadium producer Bushveld Minerals has agreed to acquire Duferco Vanadium Investment Holding's Vanchem plant, the ferrovanadium business of its subsidiary South African Japan Vanadium (SAJV) and all the shares in subsidiary Ivanti Resources, for US$68 million.

Bushveld acquires Vanchem plant for US$68M Bushveld acquires Vanchem plant for US$68M Bushveld acquires Vanchem plant for US$68M Bushveld acquires Vanchem plant for US$68M Bushveld acquires Vanchem plant for US$68M

The Vamchem plant's vanadium product complements Vametco’s Nitrovan product

The $68 million is being paid in two stages, with 10% paid on April 30 into an escrow account pending completion and the balance to be settled in full between the end of July and the end of October