Steenkampskraal Holdings to pursue listing as it secures funding
Steenkampskraal Holdings (SHL), which owns the Steenkampskraal rare earths project in the Western Cape, has garnered substantial investment from private company Monoceros Mineral Resources (MMR), and is considering a possible stock exchange listing.
SHL will use the investment to advance mining activities at the mine and to effect the listing, which chairperson Trevor Blench says will happen either on the Australian or Canadian stock exchange soon.
Meanwhile, MMR was founded by chemical engineer Timothy Crombie, who SHL says recognises the need for rare earths in the global transition away from fossil fuels and the important role that the Steenkampskraal mine can play thereto.
SHL has appointed Crombie as a director and project manager.
Steenkampskraal has a mineral resource estimate of 605 000 t of ore, grading 14.4% total rare earth oxides (TREO), containing about 86 900 t of TREO, including 15 630 t of neodymium, 4 459 t of praseodymium, 867 t of dysprosium and 182 t of terbium.
The prices of these four rare earths more than doubled in 2021, as demand for electric motor magnets to make electric vehicles grew.
Steenkampskraal is an existing mine with a mining right. It was previously mined from 1952 to 1963, during which time it produced 26 969 t of TREO.
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