Bushveld Minerals (LON:BMN) is making good progress to secure funds to acquire the Vametco vanadium plant in South Africa, chief executive Fortune Mojapelo reported.

They've also announced this week that they've signed an MOU for their Mokopane tin project with South African group VBKom.

Summing up the last six months, chief executive Fortune Mojapelo tells Proactive: ''We've made a lot of progress. Obviously this transaction [the Vametco vanadium plant] was conditional. One of which was the approval by the competition authorities and we were pleased to announce last week that we got conditional approval for our transaction - so that's a very nice good tick''.

''The asset we're acquiring is cash-generating and has a sound balance sheet''.

Mojapelo adds: ''It's been busy across all our platforms. We remain focused on Vanadium, as we have said numerous times but we have to always remind people that we do have a very good tin platform and we also have a very good asset in Madagascar - coal.''