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Ferrex granted extension of Malelane prospecting right to 2016

23rd September 2013

By: Natalie Greve

Creamer Media Contributing Editor Online

  

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JOHANNESBURG (miningweekly.com) – The prospecting right for Aim-listed Ferrex’s 4 192 ha Malelane iron-ore project, in Mpumalanga, has been extended to May 20, 2016.

The Africa-focused iron-ore and manganese development company on Monday said the extension of the prospecting right was in line with the company's strategy to continue to develop the project as a low capital expenditure, initial 1.8-million-ton-a-year operation with a mine life of 16.6 years.

The tenement had a Joint Ore Reserves Committee-compliant inferred resource of 139-million tonnes at 37% iron and an upgraded total exploration target of two-billion tonnes at between 28% and 30% iron, as announced on June 4.

Ferrex MD Dave Reeves said the extension of the prospecting right was a significant step in Malelane's development, as it would ensure sufficient time for the prefeasibility and bankable feasibility to be completed as the project was advanced towards production.

“We will continue to work on the social and environmental aspects of the project and are currently preparing the mining permit application,” he commented.

Ferrex was also currently developing the 250 000 t/y Nayega manganese project, in Togo, and the Mebaga iron-ore project, in Gabon, where a drilling programme was currently under way.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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