Bushveld to split iron-ore, vanadium projects
JOHANNESBURG (miningweekly.com) – London-listed Bushveld Minerals on Wednesday introduced a “new vanadium-focused platform” designed to accelerate the development of its main magnetite layer (MML) deposit.
Bushveld Vanadium will become a standalone vanadium project, focused on the development of a “potentially world-class” vanadium resource in the MML, setting the deposit on its “own development path”.
The diversified mineral development company planned to distinguish between the company’s P-Q deposit and the MML deposit, despite the fact that they were only about 2 km apart and run along parallel strikes, explained Bushveld CEO Fortune Mojapelo.
“We are obviously excited at the potential of developing the Bushveld vanadium project and, through this initiative, we can ensure that the project receives the required attention without detracting from the other projects in the Bushveld Group, which we remain excited about and committed to developing,” he said.
The P-Q Zone deposit hosted high iron and titanium grades and was geared towards iron and titanium products, while the MML deposit boasted high iron and vanadium grades, and was geared towards vanadium and iron products.
The MML deposit had a previously reported initial Joint Ore Reserve Committee-compliant indicated resource of 52-million tonnes.
“The company will investigate the development of an operation capable of supporting production of between 5 000 t and 10 000 t a year of vanadium products,” Bushveld noted.
The thick outcropping zones would ensure that the mining operation remained low cost with very low stripping ratios.
A scoping study on the enlarged vanadium resource in Bushveld Vanadium was expected to be completed in the first half of 2014.
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