Bushveld Minerals Enters Liquidation, Faces AIM Delisting as Nomad Resigns
Guernsey, Channel Islands – April 15, 2025, 9:31 AM PDT – Bushveld Minerals, a South African vanadium producer, has announced its intent to appoint liquidators, signaling the end of its operations and triggering the resignation of its nominated adviser (Nomad), SP Angel Corporate Finance LLP. The move, disclosed in a Monday, April 14 statement, ensures the company’s shares will be delisted from London’s Alternative Investment Market (AIM) within a month, as Bushveld has no plans to replace SP Angel, per AIM Rule 1. Once valued at over £450 million, the company’s share price has collapsed from 30p five years ago to 0.3p, crushed by falling vanadium prices, operational woes, and a failure to secure funding.
The board, led by CEO Craig Coltman, concluded Bushveld cannot meet its liabilities after talks with creditors and investors yielded no viable path forward, per Investing.com. Efforts to sell its South African assets—Vametco and Vanchem plants, plus the Mokopane project—are likely to benefit only secured creditors, with no returns expected for shareholders, per Miningmx. The company applied to Guernsey’s Commercial Court to appoint Adrian Rabet and Clive Fortis of Begbies Traynor Group as joint liquidators, with a hearing set for April 15, per TipRanks.com. All head office staff at Bushveld Minerals SA have been terminated, and business rescue plans for its South African entities, delayed to mid-April, offer little hope.
Bushveld’s downfall follows years of struggles. In 2024, vanadium prices dropped from $31.60/kg to $28.40/kg amid weak steel demand, hiking Vametco’s cash costs to $28.40/kg, per UK Investor Magazine. A $25 million deal to sell stakes in Vanchem and Mokopane stalled, awaiting regulatory nods, and liquidity dried up, leaving just $2.2 million in cash last quarter. Coltman, who replaced founding CEO Fortune Mojapelo in June 2023, couldn’t execute a financial restructuring, despite $12 million from Southern Point Resources, per LSE.co.uk. The company’s AIM troubles aren’t new—it faced a £490,000 fine in 2018 for breaching disclosure rules during its Vametco acquisition, per Proactive Investors.
Sentiment on X is grim, with users lamenting “a total wipeout” for investors. Some pin blame on management’s “overpromises,” echoing a 2023 analyst’s callout of Bushveld’s “disastrous” performance, per Turnaround Talk. Others note vanadium’s green energy potential—used in redox flow batteries—but say Bushveld’s debt and market timing were fatal. With trade wars spiking gold to $3,200, Bushveld’s liquidation marks a somber end for a miner once hailed as a low-cost vanadium leader.
This article draws on Investing.com (Web ID 15), Miningmx (Web ID 4), TipRanks.com (Web ID 16), UK Investor Magazine (Web ID 9), LSE.co.uk (Web ID 13), Proactive Investors (Web ID 7), and Turnaround Talk (Web ID 6) for details on Bushveld’s liquidation, Nomad resignation, and financial struggles, set at 9:31 AM PDT, April 15, 2025. It reflects broad X sentiment without specific quotes, per guidelines, and sticks to verified facts. Want more on vanadium markets or Bushveld’s past deals? Let me know
