https://www.miningweekly.com
Construction|flotation|Mining|PROJECT|Infrastructure|Operations
Construction|flotation|Mining|PROJECT|Infrastructure|Operations
construction|flotation|mining|project|infrastructure|operations

Kropz draws down second tranche of bridge loan to keep Elandsfontein going

1st September 2022

By: Darren Parker

Creamer Media Contributing Editor Online

     

Font size: - +

Emerging African phosphate producer and developer Kropz has announced the second drawdown of R47-million on its R121.5-million bridge loan facility to meet immediate cash requirements resulting from continued delays in the ramp-up of operations at the Kropz Elandsfontein phosphate project, in the Western Cape.

Kropz noted that progress continues to be made in the ramp-up.

The company entered into the loan facility with its major shareholder African Rainbow Capital (ARC) Fund and made the first drawdown of R60-million on August 9.

Kropz and ARC Fund said they were working on a comprehensive funding structure to finance any further funding requirements for the project.

Kropz bought the Elandsfontein property in 2010 and soon developed an openpit mining operation and on-site processing facility with a production capacity of one-million tonnes a year.

About $160-million has been invested in project development, mine processing plant, and construction of associated infrastructure.

Rock phosphate from the openpit mine is stockpiled before passing to the milling and classification circuit in the processing plant, where it is prepared for flotation. Concentrate and tailings streams are thickened and filtered, with the concentrate then dried and stored for dispatch to port.

Steady-state production was expected to have been achieved this year.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

 

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 12 April 2024
Magazine round up | 12 April 2024
12th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.119 0.155s - 110pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: