JOHANNESBURG (miningweekly.com) – TSX-listed Alphamin Resources, which is developing the Bisie tin project, in the Democratic Republic of Congo, has appointed Bernard Swanepoel and Paul Baloyi to its board.
Swanepoel currently also serves on the boards of miners Impala Platinum, Zimplats, eXtract Limited, African Rainbow Minerals and clean energy company AREP.
He is also a partner in THINKspiration – a leadership and strategy consultancy – as well as founder of junior mining consultancy To-The-Point Growth Specialists, chairperson and MD of privately owned manganese value-added producer MMC, and recently created a R1-billion resources investment fund in partnership with eXtract and other investors.
Swanepoel also chairs and co-owns the yearly Joburg Indaba, while serving as president of the small and medium-sized enterprise business chamber AHI.
Baloyi currently serves on the boards of Old Mutual South Africa, Bidcorp and ENX Group and is chairperson of Basil Read.
With over 35 years of experience in the international finance sector, having served as the Development Bank of Southern Africa CEO, Nedbank Africa director and holding senior positions within Standard Bank, Alphamin chairperson Charles Needham noted that Baloyi, as well as Swanepoel's, calibre and top-level experience will stand Alphamin in very good stead.
“Not only do [the new board members] enjoy international business clout and respect, but their expertise will add value to the board as it guides the Alphamin business into a prosperous future,” he added.
Meanwhile, the company reported that mine boxcut construction and the upgrade of the access road at Bisie have started, following the mobilisation of two earthworks contractors to site and the appointment of the mining contractor.
The recent completion of the front-end engineering design (FEED) programme and associated control budget estimate (CBE) by construction company DRA Projects, further confirmed the robust economic metrics and potential of the project, and its development into North Kivu’s first commercial mine and a new premier global tin producing mine.
A comprehensive process for estimating capital costs was followed and the CBE results illustrated that the project has the potential to remain strongly profitable at lower tin prices, as well as at increased prices for key consumables.
The completed FEED and CBE increased proven and probable reserves to 4.67-million tonnes at 3.58% tin, containing 167 300 t of tin, while also increasing the life-of-mine to 12.5 years.
The optimised process flow sheet resulted in 6% higher yearly average plant throughput rates and an increase in tin recoveries to 73%.
Further, borehole drilling to prove the current reserves and provide mine planning, has been carried out to a depth of 550 m below surface and 720 m down plunge, resulting in production of 373 800 t/y run-of-mine.