Johannesburg, South Africa — MININGREVIEW.COM — 13 November 2008 – Braemore Resources plc – an AIM-quoted company aiming to develop into a top-10 international nickel and platinum group metal (PGM) producer – has secured two key off-take agreements which will guarantee PGM concentrate feed supply to its recently-upgraded 3.2MW smelter operating in Johannesburg.
A news release issued here revealed that the agreements were with Anglo Platinum and Northam Platinum respectively, with the Anglo Platinum agreement based on a short-term contract. The agreements contract out Braemore’s total installed smelting capacity on commercial terms.
The release added that as of the end of October 2008 the 3.2MW smelter furnace had been fully commissioned and – following a planned 24-hour shutdown for inspection on 15 November – would operate at maximum capacity.
As previously announced, the new ConRoast smelter is capable of producing up to 70 000 PGM ounces per annum, depending on feed grade, in a more cost-effective and environmentally responsible manner than traditional smelting complexes.
Braemore CEO Leon Coetzer commented: “The conclusion of these agreements brings further certainty to our strategy to become a PGM producer, and takes Braemore a step further towards establishing the first independent, black-empowered smelter in South Africa. The utilisation by these major producers of Braemore’s expanded smelter to process high chrome concentrates is a significant endorsement of the ConRoast technology,” he added. “Northam Platinum produces limited quantities of a high chrome content PGM concentrate, and this technology will increase their operational flexibility.”