11th Jun 2014 11:32
LONDON (Alliance News) - Bushveld Minerals Ltd Wednesday said a modelling exercise conducted on the company's Bushveld Vanadium project's main magnetite layer resource has yielded positive results, and suggested it may be able to put a premium-grade vanadium run-off system in place.
The mineral development company with several operations in Southern Africa said the modelling was completed by Hatch Goba and Exxaro Research and Development as part of a scoping study for the entire project.
The test work evaluates two processing routes: a salt roast process to produce vanadium pentoxide flakes and/or ferrovanadium and a smelting process to produce pig iron or steel and high-grade vanadium run-off.
The company said the model, which studied the smelting route, showed that favourable vanadium grades in previous studies of main magnetite layer concentrate support the production of a premium-grade vanadium run-off system or slag, following pig iron production and vanadium extraction.
It said that roughly 370 kilograms of pig iron and 35 kilograms of high-grade vanadium slag can be obtained from every tonne of main magnetite layer concentrate processed, and that some processing techniques could reduce electricity consumption by roughly 70%, representing significant cost savings.
Previous studies from smelting of concentrate from its P-Q deposit at the project showed it possible to obtain a slag containing roughly 60% titanium dioxide.
"We are pleased that modelling on the smelting route has yielded the positive results reported today, and we look forward to providing results on the salt roast processing route and completing the Scoping Study on this world class deposit," Chief Executive Fortune Mojapelo said in a statement.
Bushveld Minerals shares were down 3.7% to 3.90 pence on Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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