🕐11.02.10 - 10:11 Uhr

Chromex Mining - Broker Update: Chrome Production at Stellite recommences



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 Company"s 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.




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