Northam buys Glencore’s Eland mine for R175m; secures chrome marketing agreement
JOHANNESBURG (miningweekly.com) – JSE-listed Northam Platinum has acquired the Eland platinum mine from Glencore Operations South Africa for R175-million.
It has also concluded an exclusive chrome marketing agreement with Glencore International, which will market and sell chrome produced at Northam’s Zondereinde and Booysendal operations.
“The Eland transaction provides Northam with a medium-term option over a large, shallow resource with fully developed surface infrastructure. Northam will also be acquiring a sizeable mining fleet, a portion of which will be used at the Booysendal South operation,” Northam CEO Paul Dunne said on Friday.
The sale includes the acquisition of Eland’s two mining rights with a resource estimated at 21.3-million ounces of platinum, palladium, rhodium and gold with an average in situ grade of 4.4 g/t, as well as surface and underground infrastructure.
The transaction also includes the acquisition of a chrome spiral recovery plant; a tailings storage facility with a capacity of 100-million tons; two decline systems; and surface support infrastructure designed for a 250 000 t/m operation.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation