Braemore Resources Plc – PGM production update

Braemore Resources Plc – PGM production update

Braemore Resources Plc is pleased to confirm platinum group metal (PGM) production figures for the second period of operation of its 3.2MW smelter at the Mintek facility.

  • In the three months from January to March 2009, the enlarged Mintek smelter produced 10,574 PGM ounces (6E*), (9,007 PGM ounces (4E**)).
  • Excellent recovery rate of 99.13% achieved from the high-chrome content PGM concentrate
  • Smelter fully repaired and in operation after powering up on 17 April 2009 after recently announced incident.

In the three months to 31 March 2009, Braemore successfully treated low-PGM content, high-chrome smelter feed at its ConRoast demonstration facilities using Mintek’s DC arc furnace in Johannesburg, South Africa.

The facility is capable of processing around 2,000 tonnes of concentrate and other smelter feed per month and producing PGMs in an iron-nickel alloy at an annualised rate of up to 70,000 ounces per year, depending on the feed grade. At the time of the recently announced smelter incident it had been progressively ramping up to capacity and has produced a total of 17,609 PGM ounces (6E), (14,638 ounces PGM (4E)) since commissioning the expanded smelter operations in October 2008. During the month of March, despite the smelter incident late in the month, 3,777 PGM ounces, (6E) (3,208 PGM ounces (4E)) from high-chrome content feed were produced. Smelter recoveries averaged 99.1% over this period and chrome content was as high as 5.19%. Financial year-to-date production figures total 19,053 PGM ounces (6E) (15,053 PGM ounces (4E)).

Leon Coetzer, CEO of Braemore, commented: “Our recovery rates are exceptional for a smelter processing high-chrome, low-PGM content concentrates.  Following the relatively minor damage to the furnace caused by the incident in late March, repairs were quickly completed and powering up began on April 17th. The smelter is being carefully monitored and throughput is being gradually built up towards achieving our annualised PGM production targets.”

* 6E refers to the six elements of the platinum group metals, namely platinum (Pt), palladium (Pd), rhodium (Rh), iridium (Ir), ruthenium (Ru) and gold (Au).
** 4E refers to the four elements of the platinum group metals, namely platinum (Pt), palladium (Pd), rhodium (Rh) and gold (Au).

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