South African chrome miner Chromex Mining has recommenced mining at its Stellite opencast chrome mine on the Western Limb of the Bushveld Complex in South Africa. The decision follows improved market conditions which have led to the drawdown of its stockpiles over the past six months.
The Stellite operation will initially produce around 20,000 tonnes per month increasing to 40,000 tonnes per month following improvements to its beneficiation plant which are expected to be completed in Q3 2010.
Chromex currently produces 42% and 44% metallurgical grade chrome concentrate and the Company hopes to 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."
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