Bushveld’s profits boosted as vanadium price soars

Date: Sep 27, 2018

Bushveld Minerals LTD (LON:BMN) delivered £62.1mln in revenue during the six months to June 2018.

That translated into profit after tax of £21.1mln, up significantly on the £1.1mln delivered in the corresponding period a year earlier.

The profits boost came as the company enjoyed its first period of fully consolidated accounts since increasing its shareholding in Bushveld Vametco Holdings from 26.6% to a controlling 59.1% in December 2017, and subsequently to 75% in September 2018.

Vametco is an established vanadium producer and has been benefiting from extremely strong vanadium prices in recent months.

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