REG - Bushveld Minerals Ld - Appointment of Independent Non-Executive Director

Bushveld MineralsAnnouncement

27/05/2022 07:30

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RNS Number : 0548N  Bushveld Minerals Limited  27 May 2022

27 May 2022

Bushveld Minerals Limited

 

("Bushveld", the "Company" or the "Group")

 

Appointment of Independent Non-Executive Director

 

Bushveld Minerals Limited (AIM: BMN), the AIM-listed, integrated primary
vanadium producer which owns high-grade vanadium assets in South Africa, is
pleased to announce the appointment of David Noko as an independent
non-executive director to the Board of Directors (the "Board"), concurrent
with this appointment, the Company also announces the retirement of Anthony
Viljoen from the Board.

 

Anthony was a founding member of Bushveld Minerals and played an instrumental
role in Bushveld Minerals' growth and transition from explorer to producer.
Following this transformation in the business, Anthony focused on developing
the Company's tin assets, which led to them being spun out of Bushveld with
the listing of AfriTin Mining Limited ("AfriTin") on AIM in 2017. Anthony is
the CEO of AfriTin and his retirement from the Bushveld Minerals Board comes
at a time when AfriTin is rapidly developing its large-scale resources at the
Uis Mine in Namibia.

 

David is highly regarded in the South African and global business circles and
has years of experience both as an executive and more recently as board member
on several prominent companies, including, Royal Bafokeng Platinum Limited,
Harmony Gold Mining Company Limited, AstraPak Pty Ltd and Platistone Holdings
(Pty) Ltd. He is currently a Non-Executive Director at inter alia African
Rainbow Minerals and Tongaat Hulett, as well as being a Lead Advisor at his
consultancy company, ESG Advisory Ltd. He is also the Chairman of the Council
of the University of the Free State.

 

David's career included senior roles at General Electric Company, Pepsi Cola
International, South African Breweries (Pty) Ltd, De Beers Group and most
recently held the position of Executive Vice President at AngloGold Ashanti
until March 2019.

 

David's appointment follows the appointments, announced on 17 March 2022, of
three other non-executive directors, made to ensure that the Board's
composition meets the high standards of corporate governance expected of
London listed companies and reflect Bushveld Minerals' status as a significant
primary producer of vanadium in South Africa.

 

Following the above changes, the Board of Bushveld Minerals will comprise two
executive directors (Fortune Mojapelo, Chief Executive Officer and Tanya
Chikanza, Finance Director), an independent  non-executive chairperson, and
five independent non-executive directors.

 

Anthony Viljoen, founding member and departing Non-executive Director
commented:

 

"I am extremely honoured to have been part of this exciting story since the
very beginning. Bushveld Minerals started as an idea between two colleagues
who saw numerous opportunities in Southern Africa's resource space that were
not being pursued due to the lack of any meaningful homegrown junior mining
companies at the time.

 

"In a little over a decade, the Company has consolidated a large part of South
Africa's, and the world's, primary vanadium processing capacity and high-grade
resources, while also providing the platform for AfriTin, the company I now
lead, to develop into the tin producer and lithium developer it is today.

 

"It has been an incredible journey, but it's time for me to stand back and
watch Bushveld Minerals continue to grow while I focus on the expansion of
AfriTin."

 

Ian Watson, Chairperson of Bushveld Minerals, commented:

 

"On behalf of the Board, I must thank Anthony for his significant contribution
to Bushveld Minerals over more than a decade of service. He played a core part
in the formation of the company and in the years hence. As an upstart in the
South African mineral space, Bushveld's fresh approach and nimbleness allowed
the Company to act quickly on opportunities and obtain assets that today are a
great deal more valuable than what was paid for them.

 

"It is with great pleasure that I welcome someone of David's calibre to the
Board. As an established, globally significant vanadium producer, his
appointment, and the other recent appointees, creates a formidable structure
which reflects our ambition to uphold the highest standards of corporate
governance, but also leverage the knowledge and sound advice that these highly
experienced individuals can offer, to the benefit of all shareholders."

 

 

 

ENDS

 

Enquiries: info@bushveldminerals.com

 Bushveld Minerals Limited                                                           +27 (0) 11 268 6555
 Fortune Mojapelo, Chief Executive Officer
 Andrew Mari, Investor Relations

 SP Angel Corporate Finance LLP                    Nominated Adviser & Broker        +44 (0) 20 3470 0470
 Richard Morrison / Charlie Bouverat
 Grant Baker / Richard Parlons

 Tavistock                                         Financial PR
 Gareth Tredway / Tara Vivian-Neal/ Adam Baynes                                      +44 (0) 207 920 3150

 

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to David Collen Noko,
aged 65:

  Current directorships and/or partnerships:   Former directorships and/or partnerships (within the last five years):
 African Rainbow Minerals Ltd                  AngloGold Ashanti (Ghana) Limited

 Aveng Moolmans (Pty) Ltd                      AngloGold Ashanti (Iduapriem) Limited

 CelaCorp (Pty) Ltd                            Bell Rivers Investments Ltd

 ESG Advisory (Pty) Ltd                        Oro Group (Pty) Ltd

 Gradesmatch Foundation                        Platistone Gauteng (Pty) Ltd

 Gunoma Trading (Pty) Ltd                      Vhatsila Holdings (Pty) Ltd

 Matsakanoko Trust

 Tongaat Hulett Ltd

 Volta Bridge (Pty) Ltd

 

Mr Noko does not currently hold any ordinary shares of 1 pence each in the
Company.

There are no further disclosures required under Schedule 2(g) of the AIM Rules
for Companies.

 

 

 

 

ABOUT BUSHVELD MINERALS LIMITED

Bushveld Minerals is a low-cost, vertically integrated primary vanadium
producer. It is one of only three operating primary vanadium producers, owning
2 of the world's 4 operating primary vanadium processing facilities. In 2021,
the Company produced approximately 3,600 mtV, representing approximately three
per cent of the global vanadium market. With a diversified vanadium product
portfolio serving the needs of the steel, energy and chemical sectors, the
Company participates in the entire vanadium value chain through its two main
pillars: Bushveld Vanadium, which mines and processes vanadium ore; and
Bushveld Energy, an energy storage solutions provider. Bushveld Vanadium is
targeting to materially grow its vanadium production and achieve an annualised
steady state production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a by
the end of 2022, from projects currently being implemented. Beyond that,
pre-feasibility studies, completed in Q4 2021 and currently under review, are
to determine the optimal path to increase production even further to a steady
state production run rate of between 6,400 mtVp.a. and 6,800 mtVp.a. in the
medium-term and to a steady state production run rate of 8,400 mtVp.a in the
long term.

Bushveld Energy is focused on developing and promoting the role of vanadium in
the growing global energy storage market through the advancement of
vanadium-based energy storage systems, specifically Vanadium Redox Flow
Batteries ("VRFBs").

Detailed information on the Company and progress to date can be accessed on
the website www.bushveldminerals.com (http://www.bushveldminerals.com/)

 

 

 

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