HomeNewsBraemore to list on JSE

Braemore to list on JSE

Alloy tapping at
Braemore’s test
London, England — MININGREVIEW.COM — 10 July 2008 – Braemore Resources plc – an AIM-quoted company aiming to become a top ten international nickel and platinum group metal producer – is to list on the main board of the JSE under the ‘General Mining’ sector with effect from 16 July 2008.

Braemore currently operates Braemore Nickel in Western Australia, and Braemore Platinum in South Africa. It is not currently directly involved in mining operations in South Africa, but has licenses to technology whereby the precious and base metals can be further processed for recovery and ultimate sale.

Its pre-listing statement released here explained that through its subsidiary, Braemore Platinum (Pty) Limited, the company had exclusive rights to Mintek’s patented ConRoast technology, which has applications in the smelting of high chrome and nickel content PGM concentrates in South Africa.

As a result, the statement added, Braemore is positioned to be at the forefront of the expansion in PGM production in South Africa, and intends to leverage itself into projects and strategic alliances or joint ventures with selected new platinum producers. Its intention is to become the first black-empowered independent PGM smelting business in South Africa,

The pre-listing statement went on to confirm that Braemore’s rights to the Mintek ConRoast technology were successfully operating at test plant level, with its demonstration smelter producing PGM in alloy at an annualised rate of 20 000 oz. This was being expanded to 60 000 to70 000 oz per annum. Unlike conventional smelters, ConRoast is unaffected by the high-chrome content ores, which are increasingly being mined.

“The company is well positioned to become a significant player in the burgeoning South African PGM sector, offering a more cost-effective, environmentally friendly and accessible smelting option to a plethora of junior mining companies,” the statement concluded.

Access to financial markets – through the AIM and the South African listings – will help facilitate this process.