29th Nov 2018 14:18
LONDON (Alliance News) - Bushveld Minerals Ltd said Thursday preparatory work for the Eskom battery project has recommenced following electrolyte contamination.
The original timeline for the project saw the delivery of hardware to the project at the end of the second 2018 quarter but was delayed after both the electrolyte itself and contaminated components had to replaced.
The new timeline predicts that the prep work will complete before the start of South African holidays in December.
Both Bushveld Energy Ltd, which is 84% owned by Bushveld Minerals, and project partner UniEnergy Technologies have been awarded a grant by the United States Trade and Development Agency to develop the project.
"Our business plan, anchored in a low cost scalable primary production platform, will allow us to maximise value for Bushveld and its shareholders," said Bushveld Energy Chief Executive Mikhail Nikomarov.
Shares in Bushveld were up 0.3% at 42.63 pence on Thursday.
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