🕐09.02.10 - 10:02 Uhr
Chromex Mining - Recommenced mining at its Stellite chrome mine South Africa
Chromex Mining plc / Epic: CHX / Market: AIM / Sector: Mining &
Exploration
9 February 2010
Chromex Mining plc (Chromex or the Company)
Stellite Chrome Production Update
Chromex Mining plc, the AIM listed chrome mining company focused in
Southern Africa, is pleased to announce that it has recommenced mining
at its Stellite opencast chrome mine (Stellite) on the Western Limb of
the Bushveld Complex in South Africa.
The decision follows improved
pricing and chrome market conditions which has led to the drawdown of
its run-of-mine (ROM) stockpiles over the past six months.
The
Stellite operation will initially produce circa 20,000 ROM tonnes per
month, increasing to 40,000 ROM tonnes per month, when the dense media
separation circuit (DMS) is installed at the beneficiation plant.
The
DMS is expected to be completed in Q3 2010 and will improve recovery
margins and economic efficiencies.
Currently Chromex is producing 42% and 44% metallurgical grade chrome
concentrate.
When the DMS has been installed at the beneficiation
plant, in addition to the capacity increase, the Company will be in a
position to market a sized lumpy chrome product in addition to chemical
and metallurgical grade concentrates.
Chromex CEO Russell Lamming said, "Despite the challenging chrome market
conditions over the past year we have continued to invest in our
operations, channelling our focus into building a cost efficient
producing chrome mine at Stellite.
In this vein, with market conditions
beginning to improve, and a solid orebody containing circa 31.9 million
tonnes of chromite to utilise, we feel that the time is right to
recommence our mining operations and deliver an uplift in value for
shareholders in 2010."
**ENDS**
For further information please visit www.chromexmining.co.uk or contact:
Russell Lamming
Chromex Mining plc
Tel: +44 (0) 7810 870 587
Brian Moritz
Chromex Mining plc
Tel: +44 (0) 7976 994300
William Vandyk
Astaire Securities plc
Tel: +44 (0) 20 7448 4400
Guy Wilkes
Ocean Equities Limited
Tel: +44 (0) 20 7786 4370
Hugo de Salis/ Felicity Edwards
St Brides Media & Finance Ltd
Tel: +44 (0) 20 7236 1177
Notes to Editors
Chromex Mining plc (AIM: CHX) is an AIM quoted dedicated chrome company
established to acquire, control and develop chromite mining and
processing facilities.
It currently has two key mining assets located
on the Bushveld Complex in South Africa, which between them have total
resources of approximately 41 million tonnes of chromite.
Additionally, in line with the Companys strategy of building a broad
portfolio of chrome and related mineral assets across southern Africa,
Chromex concluded a binding Heads of Agreement to acquire 49% of Falvect
Mining (Private) Limited in Zimbabwe.
Felicity Edwards
St Brides Media and Finance Ltd
Chaucer House
38 Bow Lane
London
EC4M 9AY
Tel: +44 (0) 207 236 1177
Mob: +44 (0) 7748 843871
Fax: +44 (0) 207 236 1188
Email:
Web: www.sbmf.co.uk
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