JOHANNESBURG (miningweekly.com) – JSE-listed platinum exploration company Bauba Platinum has undertaken the first blast on the LG6 chrome horizon at its Moeijelijk operation, in Limpopo, some two months after starting mine establishment.
The blast would produce about 15 000 t of chrome ore at a grade of 39% chrome, with the first delivery of run-of-mine chrome ore to offtake partner ASA Metals expected by the end of the month.
The build-up to the planned 20 000 t/m of chrome ore was expected to be achieved within two months from start-up, Bauba CEO Syd Caddy said in a statement.
“This first blast represents a significant milestone for Bauba. It truly announces the transformation of Bauba from a pure platinum exploration company to an exploration and production company.
“Chrome production will further ensure that funding becomes available to support the platinum exploration programme and place the company in a position to declare dividends to its shareholders,” he commented.
In addition to developing its Moeijelijk project, Bauba said it was continually evaluating other potential chrome projects with a view to potentially expanding its chrome footprint in the marketplace and thereby further enhancing its free cash flow.