Johannesburg, South Africa — MINING REVIEW.COM — 17 July 2008 – Braemore Resources plc – an AIM-quoted company aiming to become a top ten international nickel and platinum group metal producer – has combined the start of trading on the JSE with a move towards significant future developments in South Africa.
Bloomberg News reports that the company is in talks with mining companies in South Africa to develop new smelters.
The report quoted Braemore acting CEO David Russell as saying in an interview broadcast by CNBC Africa that the London-based company planned to provide what it called “more efficient’ smelters” to a “very constrained South African market.” He did not, however, identify the companies with which Braemore was in discussion.
Braemore raised US$13 million (More than R100 million rand) in a share sale to selected investors before it began trading yesterday. Russell said the money would pay for new equipment and would fund what he described as “ongoing studies.”