Photo by: Duane Daws
CAPE TOWN – A recovery in prices has seen Bauba Platinum resume chrome mining at its Moeijelijk Mine, the company said on Thursday.
The mine was placed under care and maintenance on January 11 last year after a decline in the chrome-ore price – from $175/t to about $120/t – rendered the chrome project financially unviable.
The company said in a statement on Thursday that the price had rebounded from last year’s low of $80/t to around $380/t.
Bauba said the build-up to planned production of 20 000 t/m chrome-ore was expected to be achieved within three months.
“From a difficult position in 2016, Bauba has, having wisely preserved its chrome-ore reserves for more favourable prices, come into a stronger position and is well positioned to capitalise on these improved prices” says Bauba’s CEO Nick van der Hoven.