Aim-listed Bushveld Minerals says it has started a controlled slowdown of production at its Vametco operation, in South Africa's North West province, and that the length thereof will depend on the timing of receiving sufficient further funding.
The vanadium producer attributes the decision to liquidity issues, with it being unable to continue operating at current production levels.
Bushveld is awaiting proceeds from the sale of its Vanchem business and expects the completion of the sale imminently.
In the meantime, it has withdrawn its 2024 production guidance and will provide a further update in early November.
