FORTUNE Mojapelo heads a rare breed of mining company in South Africa: the exploration firm. What’s rarer still is that Mojapelo’s Bushveld Minerals, an AIM-listed company, is hoping to bring new vanadium production to the market not just to supply the steel industry, where it is used as a strengthening agent, but as a component in new age batteries. The high concentration of vanadium production – 90% of the market is split between China, South Africa and Russia – means that with little new production coming on stream, the current vanadium price is unrealistically low. Well, that’s the theory. Bushveld Minerals recently took control of Lemur Resources, a company with a coal resource in Madagascar, which helpfully has some cash at the centre, as well as diversifying Bushveld’s commodity spread. The UK listing was initially predicated on Bushveld’s tin prospects which still remain in the group. As has been often repeated in this year’s Rainmakers & Potstirrers, miners are optimistic creatures, but none are more so than the exploration firms. Mojapelo believes the current downturn is an excellent opportunity to seek new prospects.
LIFE OF FORTUNE
He is a mining engineer turned entrepreneur who co-founded VM Investment Company, an investment and advisory company developing projects in Africa. He previously worked with McKinsey & Co and has a BSc in Actuarial Science from the University of Cape Town.
- Web Address: www.bushveld-minerals.com