Name of the Project
Moonlight Crescent iron-ore project.

Location
The Moonlight deposit is a magnetite deposit located on the Moonlight, Gouda Fontein and Julietta farms in  Limpopo, South Africa.

Client
Ferrum Crescent.

Project Description
The beneficiation attributes of the Moonlight deposit ore are extremely impressive, with low-intensity magnetic separation considered suitable for optimum concentration.

Metallurgical tests on Moonlight material undertaken by Ferrum have suggested that good metal recoveries can be achieved, and that the resulting concentrates have a high iron content and only negligible impurities at grind sizes considered to be industry standard (P80 of 75  to 125 ).

Metallurgical testwork has indicated the potential for high-quality concentrate and/or pellets with more than 69% iron content and low deleterious elements (direct-reduction- or DR-grade pellets for use in direct-reduction iron/electric arc steelmaking processes).

The proposed project involves mining and beneficiating at Moonlight, a slurry pipeline to the area close to railhead, as well as the manufacturing of a six-million-tonne-a-year blast furnace and DR iron-grade pellets for export and domestic sale.
An offtake agreement has been secured with Swiss-based Duferco SA, for the sale of 4.5-million tonnes a year of pellets for export and first right of refusal in respect of 1.5-million tonnes a year, if it is not sold domestically.

Jobs to be Created
Not stated.

Net Present Value/Internal Rate of Return
Not stated.

Value
The total value of the project has not been disclosed.

Duration
Not stated.

Latest Developments
Ferrum has started a new process to determine its true potential as a viable high-grade iron production source. A series of initiatives are under way, including assessing potential development partnerships, and having offtake discussions aimed at securing interesting historical data sets on the project.

Back economic empowerment-compliant South African investment company Business Venture Investments will provide a completed bankable feasibility study for Ferrum by 2018/19 at no expense to Ferrum, in return for a 39% to 43% equity position in the Moonlight project.

Key Contracts and Suppliers
ProMet Engineers (detailed scoping study) and Mineral Corporation Consultancy (updated resource estimate).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Ferrum Crescent, tel +27 11 510 0159, fax +27 86 219 5701 or email info@ferrumcrescent.com.
ProMet Engineers, tel +27 21 556 9759, fax +27 21 556 9758 or email info@promet.co.za.