There is a better project mood about. It was good to see the board of the Johannesburg-listed Tharisa Mining approve R780-million to increase chrome recovery and add 400 000 t/y of chrome to the company’s production from its chrome and platinum group metals mine near Brits.
It was also good to hear at the official opening of the R1.7-billion Nokeng fluorspar mine, which unlisted fluorspar developer Sepfluor has built north-east of Pretoria, that the company is already doing a feasibility study on another fluorspar mine in the vicinity.
In addition, Sydney- and Johannesburg-listed Orion Minerals was all smiles with yet another black economic empowerment (BEE) member to its BEE partner company, Prieska Resources – this time, Safika Resources, headed by Saki Macozoma.
The Prieska Project being advanced by Orion is an exciting copper and zinc foray with growth potential. The modern, concurrent exploration being done is already pointing to new possibilities.
In a vote of confidence for the Barberton mining industry, the Lily and Barbrook mines look like they are on their way back.
Real Win Investments stated last week that Vantage Goldfields had accepted its conditional offer to acquire 100% of the shares and claims in Vantage Goldfields South Africa, the owner of the Lily and Barbrook mines, in Mpumalanga, and due diligence is to be undertaken by independent mining consultants with a view to start reopening the mines.
Then, next door, in Botswana, an engineering, procurement and construction management contract has been awarded for the Khoemacau copper and silver project.
Getting back to fluoride, Nokeng’s products are destined for the US, Europe and India, and the unlisted Sepfluor owner has a seven- year offtake and marketing agreement with Traxys, which also has a stake in Sepfluor.
Excellent news is that cash flow from Nokeng will be used to fund the company’s second mine, the Wallmannsthal fluorspar mine, where Sepfluor already has the mining rights and water-use licence for the project, and a definitive feasibility study is scheduled for completion in 18 months.
Meanwhile, Macozoma’s Safika has taken a 44.72% stake in Prieska Resources, with Black Star Minerals holding a 17.31% interest and Kolobe Nala Investment 37.97%. Incidentally, Safika’s main other investment in Ntsimbintle Holdings, which has a 37% stake in Tshipi e Ntle Manganese Mining, is flying.
Nokeng has been fortunate to hit high fluorspar prices, which appear sustainable because of fluorspar mine closures in Namibia and Kenya.
From a cost perspective, Nokeng is expected to be in the lowest quartile of producers worldwide.
At Khoemacau, owner Cupric Canyon has reported that the 20-year-life operation is expected to produce 62 000 t/y of copper and 1.9-million ounces of silver a year.
Even though many more projects will be needed to make a much-needed impression on the region’s gross domestic product, these and other initiatives are succeeding in lifting economic spirits.