REG - Bushveld Minerals Ld - Bushveld announces appointment of Chief Executive

Bushveld MineralsAnnouncement

21/06/2023 07:00

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RNS Number : 3794D  Bushveld Minerals Limited  21 June 2023

Market Abuse Regulation ("MAR") Disclosure

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

Bushveld Minerals Limited

("Bushveld" or the "Company")

 

Bushveld announces appointment of Chief Executive

 

 

21 June 2023

The Board of Bushveld Minerals is pleased to announce the appointment of Craig
W. Coltman as Chief Executive. Craig has vast experience in the mining
industry. He served a distinguished 32 years with De Beers Consolidated Mines
in operational and commercial roles with his most recent role being that of
Chief Financial Officer and as Executive Director. Craig is also the Chairman
of De Beers Pension Fund.

Craig will become Chief Executive, and join the Board, with effect from 01
July 2023, the date on which Fortune Mojapelo will step down as Chief
Executive.

Fortune is a co-founder of Bushveld and has led the business as Chief
Executive for more than 11 years. Having helped build the Company from an
exploration company to a fully-fledged primary vanadium producer, Fortune and
the Board agree it is an opportune time for a leadership transition to steer
the Company to its further development.

Fortune will work closely with Craig during a transitional period in order to
facilitate a smooth handover.

Michael Kirkwood, Chairman of Bushveld Minerals stated, "The Board is
appreciative of Fortune's visionary entrepreneurship in building a significant
new vanadium business and gives its sincere thanks for his dedicated service
over the past years. The Board and the Company wish him well in his future
endeavours.

"The Board is delighted to have attracted an executive of Craig's experience
and qualities to Bushveld. He is a strategically focused change-leader with a
strong track record across multiple disciplines. We look forward to supporting
him in realising the embedded value within the Group."

Craig commented, "I am excited to join the Bushveld team and to continue
working in the mining industry. I am passionate about this industry and its
people."

Fortune expressed, "Co-founding and leading Bushveld Minerals into an
integrated vanadium platform that is set to play a key role in the growing
vanadium industry has been an immense privilege. While I recognise the
challenging circumstances the Company has had to navigate in recent years, my
conviction in the potential and future success of this Company remains. To our
shareholders and stakeholders, thank you for your trust; and to the team at
Bushveld under the leadership of Craig, I wish you the success that all your
hard work and the trust of our stakeholders deserves".

 

The following information is disclosed pursuant to Rule 17 and Schedule Two
paragraph (g) of the AIM Rules for Companies in relation to Craig Winston
Coltman (aged 62):

  Current directorships and/or partnerships:     Former directorships and/or partnerships (within the last five years):
 De Beers Pension Fund (Board of Trustees)       DBCM Holdings

 De Beers Benefits Society (Board of Trustees)   De Beers Consolidated Mines

 REPSSI                                          De Beers Marine (pty) Ltd

                                                 De Beers Sightholder Sales South Africa

                                                 LEZMIN 2619

                                                 QCK LEZMIN 4412

                                                 QCK LEZMIN 4181

 

Mr Coltman does not hold any shares in the Company.

ENDS

 

 

Enquiries: info@bushveldminerals.com

 Bushveld Minerals Limited                                                       +27 (0) 11 268 6555
 Fortune Mojapelo, Chief Executive
 Chika Edeh, Head of Investor Relations

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

 RBC Capital Markets                             Joint Broker                    +44 (0) 20 7653 4000
 Jonathan Hardy / Caitlin Leopold

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

 

 

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 2022,
the Company produced more than 3,800 mtV, representing more than 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 grow its vanadium production and achieve an annualised steady
state production run rate of between 5,000 mtVp.a. and 5,400 mtVp.a.

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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