Bushveld Minerals announces new CEO as Fortune Mojapelo steps down

LONDON, UK: Bushveld Minerals, a leading primary vanadium producer, has announced the appointment of Craig W. Coltman as its new Chief Executive and director of the Company, effective from 01 July 2023.

Craig will succeed Fortune Mojapelo, who is stepping down after more than 11 years of leading the business as a co-founder and Chief Executive.

Craig has vast experience in the mining industry, having served 32 years with De Beers Consolidated Mines in operational and commercial roles, including Chief Financial Officer and Executive Director. He is also the Chairman of De Beers Pension Fund.

Michael Kirkwood, Chairman of Bushveld Minerals, said: “We are delighted to have attracted an executive of Craig’s experience and qualities to Bushveld. He is a strategically focused change-leader with a strong track record across multiple disciplines. We look forward to supporting him in realising the embedded value within the Group.”

He added: “The Board is appreciative of Fortune’s visionary entrepreneurship in building a significant new vanadium business and gives its sincere thanks for his dedicated service over the past years. The Board and the Company wish him well in his future endeavours.”

Fortune co-founded Bushveld Minerals in 2012 and transformed it from an exploration company to a fully-fledged primary vanadium producer, with operations in South Africa and a global presence. He also spearheaded the development of the Company’s energy storage division, which focuses on vanadium redox flow batteries.

Fortune said: “Co-founding and leading Bushveld Minerals into an integrated vanadium platform that is set to play a key role in the growing vanadium industry has been an immense privilege. While I recognise the challenging circumstances the Company has had to navigate in recent years, my conviction in the potential and future success of this Company remains. To our shareholders and stakeholders, thank you for your trust; and to the team at Bushveld under the leadership of Craig, I wish you the success that all your hard work and the trust of our stakeholders deserves.”

Craig commented: “I am excited to join the Bushveld team and to continue working in the mining industry. I am passionate about this industry and its people.”

Bushveld Minerals is a low-cost, vertically integrated primary vanadium producer, with ownership of high-grade assets in South Africa. The Company supplies over 3% of global vanadium demand and is also developing energy storage solutions through its subsidiary Bushveld Energy. Vanadium is a key component of steel alloys and batteries that are used for renewable energy storage.

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