Bushveld’s vanadium acquisition financing complete

Diversified development company Bushveld Minerals on Thursday took another step towards the creation of an integrated vanadium platform with the signing by Bushveld Vametco of the final financing agreements for the completion of the acquisition of 78.8% of Strategic Minerals Corporation (SMC) from Evraz. The financial close has been concluded with Barak Fund SPC, with the financing including an $11-million bridge loan facility repayable within two months of drawdown and attracting $939 077 in interest, fees and legal charges.