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Braemore plans its next moves Posted: Wed, 28 Jan 2009 [miningmx.com] -- OVER the next two months Braemore Resources expects to announce a move into downstream metals refining as well as name the partners for the proposed 10MW smelter to be built near Rustenburg. That's according to CEO Leon Coetzer, who said details of the downstream refining project should be released within the next few weeks while the business plan for the 10MW smelter should be announced before the end of March. Braemore has successfully commissioned a 3.2MW smelter at Mintek in Randburg which can process around 2,000t/month of concentrates and produce platinum group metals (PGM) in the form of an iron-nickel alloy at an annualised rate of up to 70,000oz. The alloy contains both PGM and various base metals such as nickel, copper and cobalt. The smelter uses Con Roast technology developed by Mintek and licenced by Braemore which intends using it to establish a foothold in the SA platinum sector. Coetzer said the new refining plant - which will be built on an industrial site within the greater Johannesburg area - will remove the iron from the alloy which will then be separated into two products. One will contain concentrated nickel, copper and cobalt while the second will contain PGM metals running at levels of more than 20%. Coetzer said: "This will grow our profit margins and our gross revenues because it will open up new markets for us. We will be able to specifically target base metal refiners with one product and precious metal refiners with the other. "Instead of offering a product containing thousands of grammes of PGM per ton we will be selling a product containing kilogrammes of PGM per ton." Coetzer would not reveal the cost of building the new refinery at this stage. Click Here to subscribe to our daily newsletter
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