Mining development company Ironveld has raised £900,000 to increase production at its iron ore and platinum group metals project in South Africa’s Limpopo Province.
The funds will be used to install a second, larger ball mill to increase metals extraction and processing capacity. The capital will also fund the installation of a new drying plant, backup power generators to enhance energy resilience and infrastructure for bulk delivery logistics.
“Market demand for our DMS-grade magnetite both from within the South African market and from nearby export countries is exceeding our current processing capacity. We are therefore looking to ramp up processing capacity through the acquisition of an additional larger mill and associated equipment,” stated Kris Andersson, CEO, IronVeld.
Peter Cox, Technical Director at IronVeld, added that upgrades at the mine will help the company to meet the evolving requirements of larger off-takers by improving product quality and operational efficiency.
Source: Energy Capital & Power
