Bushveld repays $3m Wogen facility

Diversified mineral development company Bushveld Minerals’ Bushveld Vametco subsidiary has agreed with Wogen Resources to retire the $3-million prepayment facility entered into, in March, to help fund the acquisition of a 78.8% interest in Strategic Minerals Corporation (SMC) from Evraz Group. SMC is the holding company of the Vametco Alloys operation, near Brits, which has the capacity to produce about 3 000 t of vanadium in the form of Nitrovan – a vanadium product used in the steel industry – and modified vanadium oxide.