JOHANNESBURG (miningweekly.com) - A mining right application for Sylvania Platinum’s former Harriets Wish, Cracouw and Aurora iron-ore assets had been submitted to the Department of Mineral Resources (DMR), the newly renamed Ironveld announced on Wednesday.
London-listed Ironveld, formerly known as Mercury Recycling Group, bought the Limpopo-based farms for £13.7-million last year, but in terms of the agreement, Sylvania’s 71%-owned subsidiary Hacra Mining and Exploration was required to apply for the mining rights.
“The submission of the mining right application by Hacra is a key milestone for Ironveld in the development of our pig iron project," Ironveld CEO Peter Cox said in a statement.
The company intends to mine the titaniferous magnetite iron-ore as feedstock for its own pig iron plant.
A decision by the DMR was expected during 2014, after which the company aimed to rapidly develop the project into production by 2015.
The application included the mine works programme, the social labour plan and company structures.