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<p>Inward investment was a key focus at the Mining Indaba this week. Government leaders and mining companies met virtually to discuss the way forward, amid the Covid-19 impact on the mining value chain. Joining CNBC Africa for more are Thabo Mokoena, Director General at the South African Department of Mineral Resources &#038; Energy; Fortune Mojapelo, CEO at Bushveld Minerals &#038; Neal Froneman, CEO at Sibanye-Stillwater.</p>


Mining Indaba: How the mining industry is responding to the COVID-19 crisis

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<p>South Africa’s largest supplier of vanadium, Bushveld Minerals, has reported a $10.7 million loss before tax, for the six months ended June. This is due to revenue lost from COVID-19, as a result of lower vanadium prices and lost production. The company that is listed on the London Stock Exchange, is still to be listed on the Johannesburg Exchange. Joining CNBC Africa to review the results and its new Production Financing Agreement is Fortune Mojapelo, CEO of Bushveld Minerals.</p>


Bushveld Minerals CEO on financing agreement with Orion

Bushveld Minerals CEO on financing agreement with Orion, COVID-19 impact

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<p>It’s been a topsy-turvy year for South African miner Bushveld Minerals yet the company has managed to post a set of tidy year end numbers. The falling vanadium price &#8211; down 34 per cent in the year &#8211; hammered the company&#8217;s revenue. It fell 39 per cent to just over $116 million. Bushveld CEO, Fortune Mojapelo joins CNBC Africa for more.</p>


Bushveld CEO on FY numbers & COVID-19 impact on operations


<p class="has-text-align-center"><strong>Is SA’s mining industry too deep in the COVID-19 crisis? How can it become the sunrise industry it wants to be?</strong></p>



<p>For more than a century mining was the backbone of South Africa&#8217;s economy in recent years, it fell on hard times. Despite this, it still managed to contribute close to R361bn or 8.1% to SA’s GDP and over R91bn to fixed investment in 2019.  It employed 454,861 people and paid R24.3 billion in taxes. What was the impact of COVID-19 and lockdowns on the industry? Did it put mining too deep in the COVID-19 crisis? How can it once again become the sunrise industry it wants to be? <a href="https://cvent.me/2PQoZk">Register today</a> for this virtual panel discussion to find out…</p>



<p class="has-text-align-center"><strong><a href="https://cvent.me/2PQoZk">REGISTER NOW</a></strong>: <a href="https://cvent.me/2PQoZk">https://cvent.me/2PQoZk</a></p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1110" height="581" src="https://www.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1110x581.jpg" alt="" class="wp-image-371919" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1110x581.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-300x157.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-768x402.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-696x364.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3-1068x559.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/05/BT_Mining_Facebook_speakers-x3.jpg 1200w" sizes="(max-width: 1110px) 100vw, 1110px" /></figure>



<p><strong>Speakers<br></strong><br>Fortune Mojapelo, CEO,  Bushveld Minerals<br><br>Deshnee Naidoo, former CEO, Vedanta Zinc International and board member, Minerals Council South Africa</p>



<p>Peter Steenkamp, CEO, Harmony</p>



<p>Roger Baxter, CEO, Minerals Council South Africa</p>



<p><strong>TOPICS COVERED</strong></p>



<ul><li>What measures are in place to help South Africa’s mining sector bounce back from the COVID-19 headwinds and lockdown?</li><li>Is it enough?</li><li>Rebuilding the mining industry for tomorrow</li></ul>


The 4 most under-reported stories on the COVID-19 pandemic

Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…


<p>By Chris Bishop</p>



<p>When the young Fortune Mojapelo (pictured) used to take a taxi from his township to the nearby small town of  Kwekwe in Zimbabwe he used to marvel at the huge, imposing, chrome refineries that loomed large by the roadside – never thinking, for a moment, that one day he would be in mining poised to take over 10% of supply of one of the planet’s most sought after minerals destined to power our future.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="768" height="1024" src="https://www.cnbcafrica.com/wp-content/uploads/2020/02/fortune.jpg" alt="" class="wp-image-355128" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/02/fortune.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/fortune-225x300.jpg 225w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/fortune-696x928.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/fortune-315x420.jpg 315w" sizes="(max-width: 768px) 100vw, 768px" /></figure>



<p>Mojapelo left Que Que, in the heart of Zimbabwe’s chrome
belt, to go to the University of Cape Town to study actuarial science. He spent
a few years as a management consultant before applying his skills to a
consortium seeking mineral rights in South Africa. They succeeded and Mojapelo,
then in his early 30s, became a founder of Bushveld Minerals, which listed on
AIM in London in 2017.</p>



<p>Now the South African company is gearing up to take advantage
of the world rush for battery metals expected to see the world market increase
122 times in the next 20 years. An expansion expected to attract $660 billion
in capital expenditure to unearth more metals like cobalt, lithium and vanadium
that will make the batteries that will power the world’s cars, factories and
mines. This transformation, expected to be led by Chinese manufacturers, will
replace fossil fuels with electricity to diminish the world’s carbon footprint.</p>



<p>“My only question is can Africa keep up with this demand,”
says Mojapelo <a href="https://www.cnbcafrica.com/videos/2020/02/04/miningindaba2020-bushveld-minerals-ceo-heres-why-we-are-excited-about-our-expansion-plans/">speaking
the CNBC Africa at the Mining Indaba</a> in Cape Town, “I think we can and our
company is expanding to make sure we can.”</p>



<p>Bushveld Minerals, with its Vametco Mine employing 600
workers in Brits west of Johannesburg, is investing to treble production to
8400 mt in the next five years. The company, which supplies the steel industry
in the United States and Asia, &nbsp;currently
supplies 3% of world demand and hopes to expand this to 10%.</p>



<p>Mojapelo is also planning to invest in a factory to make the
batteries from the mined vanadium. He agrees that Africa should be extracting
more from its raw minerals.</p>



<p>Benedikt Sobotka, the head of the Global Battery Alliance set up by the World Economic Forum, <a href="https://www.cnbcafrica.com/videos/2020/02/04/miningindaba2020-eurasian-resources-ceo-reveals-the-biggest-purchase-order-for-the-mining-industry-how-africa-stands-to-benefit/">said at the Mining Indaba</a> that Africa needed to get busy making batteries as well as mining the raw materials.</p>



<p>“If you look at a cell phone battery, it can retail for a
thousand dollars, while the raw materials can cost cents. That is how much
money can be made in the battery business and Africa needs to get into it,
“says Sobotka.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>


cybersecurity_shutterstock

How this African company plans to take advantage of the world’s rush for battery metals

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CNBC Africa’s Chris Bishop spoke with Fortune Mojapelo, CEO of Bushveld Minerals about the company’s plans to scale up production at the on-going Mining Indaba in Cape Town.</p>


#MiningIndaba2020: Bushveld Minerals CEO: Here’s why we are excited about our expansion plans

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<p>AIM listed, vanadium producer Bushveld Minerals has cited improved operational performance through its transformation programme at Vametco which delivered the highest quarter of production in over 2 years. The company has also received approval to acquire Vanchem assets for a consideration of $68 million. Joining CNBC Africa for more is Fortune Mojapelo, CEO of Bushveld Minerals Limited.</p>


fortune mojapelo

Mining Indaba: How the mining industry is responding to the COVID-19 crisis

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Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…

How this African company plans to take advantage of the world’s rush for battery metals

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fortune mojapelo

Mining Indaba: How the mining industry is responding to the COVID-19 crisis

Bushveld Minerals CEO on financing agreement with Orion, COVID-19 impact

Bushveld CEO on FY numbers & COVID-19 impact on operations

Is SA’s mining industry too deep in the COVID-19 crisis? Register today for this virtual seminar…

How this African company plans to take advantage of the world’s rush for battery metals

#MiningIndaba2020: Bushveld Minerals CEO: Here’s why we are excited about our expansion plans

Why Bushveld is bullish on vanadium despite weak prices

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