https://www.engineeringnews.co.za

Bauba makes first chrome shipment in platinum exploration funding move

Syd Caddy

Syd Caddy

Photo by Duane Daws

27th March 2015

By: Martin Creamer

Creamer Media Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – The JSE-listed Bauba Platinum, which is mining and selling chrome ore to fund its platinum exploration, this week shipped the first run-of-mine output from its maiden chrome horizon blast at the Moeijelik operation.

Bauba last year entered into a two-year chrome-ore supply agreement with ASA Metals, which is augmenting supply from its own chrome mine and smelter located some 30 km from Moeijelik.

Assay results of the first 2 100 t of chrome yielded the expected 39% chrome grade and met the remaining product specifications of the chrome-ore supply agreement with ASA, a joint venture between Eastern Asia Metals Investment of China and the provincially owned Limpopo Economic Development Enterprise of South Africa.

Bauba CEO Syd Caddy said in a stock exchange news announcement that, given the drilling results, the chrome content is likely to increase with corresponding improved revenue results.

Following Bauba’s R150-million acquisition of 60% of the prospecting rights over the Moeijelik and Waterkop farms in Limpopo, Bauba subsidiary Bauba A Hlabirwa Mining Investments last year obtained a bulk sample authorisation and a mining permit over Moeijelik, where opencast chrome mining is under way.

The chrome venture is generating cash for exploration in the company’s northern platinum cluster, where an initial Merensky reef borehole indicated three platinum-group elements as well as gold at grades of 6.15 g/t across a width of 3.90 m and a higher upper group two reef grade of 6.25 g/t across a width of 1.20 m.

Edited by Creamer Media Reporter

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.082 0.132s - 156pq - 2rq
Subscribe Now