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Bushveld raises cash for Vametco costs, other projects

Diversified mineral development company Bushveld Minerals has raised £580 000 through the issue of 38.67-million shares at 1.5p apiece. The proceeds will be used for general working capital purposes, continuing costs associated with the Vametco transaction, ongoing work in respect of subsidiary Bushveld Energy’s cooperation agreement with the Industrial Development Corporation (IDC) and continuing work on Lemur Resources’ independent power producer (IPP) project in Madagascar.