Name of the Project
Zincor refinery processing plant.

Location
The tailings dumps are located at the old Zincor refinery on a 240 ha site operated by EBM Projects, in Springs, Gauteng, South Africa, which is owned by Vele Private Equity (VPE).

Client
VPE, a wholly owned subsidiary of Vele Investments.
 

Project Description
The project involves the development of a zinc processing plant aimed at processing one of four remaining tailings dumps – a high-hazard certified waste disposal dam, two gold tailings dumps and an iron/zinc/lead residue dump – at the old Zincor refinery.

The estimated value of the property’s remaining in situ lead, silver, gold and iron-ore resources is estimated at about R22-billion.

The initial phase of the project entails hydromining the neutral leach dump, which comprises 2.5-million tons of zinc material, which will be processed over eight to nine years.

The zinc tailings will be treated with acid leach filtration followed by hydroxide precipitation and filtration.

The plant is targeting production of about 1 500 t/m of metal.

Potential Job Creation
The plan currently employs 104 staff members, but a further 700 direct and indirect jobs may be created as a result of the operation of the plant.

Net Present Value/Internal Rate of Return
The project has a net present value of more than R1-billion.

Value
The project is estimated at R160-million. EBM has raised R140-million from international investors for the construction of the plant. VPE will contribute R20-million.

Duration
The targeted date of production is September.

Latest Developments
EBM has completed the design and some of the approvals for the construction of the plant. It has further secured an offtake agreement with Singapore-based company Vallinger and has entered into an agreement with Keech Furnace Technologies, which will dry and further process the wet product from EBM using a dryer and furnace installed at EBM’s site.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
VPE, tel +27 21 065 0333 or email info@veleinvestments.com.