JOHANNESBURG (miningweekly.com) – Aim-listed junior iron-ore and tin explorer Bushveld Minerals on Tuesday said its 64%-owned Pamish Investments 39 subsidiary had received Ministerial consent from South Africa’s Department of Minerals (DMR) to add two farms to its exiting prospecting right..
The DMR granted the subsidiary approval to add the Schoonoord 786 LR and Bellevue 808 LR farms, as well as the mineral phosphate rock, to its prospecting right, in terms of Section 102 of the Mineral and Petroleum Resources Development Act of 2002.
The existing prospecting right had included the Vliegekraal 783 LR, Vogelstruisfontein 765 LR and Vriesland 781 LR farms.
“The inclusion of the farms will potentially extend the iron-ore resource beyond our one-billion ton target. More importantly, it allows us to extend our resources along strike, thus maintaining the opencast mining proposition of this deposit.
“The inclusion of phosphate in the license means that we can now develop the phosphate potential of the project in earnest, which we believe will significantly enhance the economics of the whole project,” Bushveld Minerals CEO Fortune Mojapelo said in a statement on Tuesday.