Bushveld gets 21% discount on Vanchem purchase
Sustained slump in the ferrovanadium price allows buyer to knock $14.5m off purchase price
23 October 2019 - 19:03
Bushveld Minerals negotiated a 21% discount on its purchase of Vanchem in SA because of a prolonged downturn in the vanadium price and pushed out the completion of the deal by a week.
Bushveld, which is traded on London’s Alternative Investment Market and intends listing in Johannesburg after it has concluded the Vanchem transaction, lowered the price and payment terms for the assets because the price of ferro vanadium has stayed stubbornly below $40/kg since May 2019, when it announced the deal...
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