Ironveld PLC Granting of Licenses (6069D)
28 April 2017 - 4:00PM
UK Regulatory
TIDMIRON
RNS Number : 6069D
Ironveld PLC
28 April 2017
28 April 2017
IRONVELD PLC
("Ironveld" or the "Company")
Granting of Air Emissions Licence and Mining Right
Ironveld plc, the owner of a High Purity Iron ("HPI"), Vanadium
and Titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province, South Africa (the "Project") is
pleased to announce the granting of both the Air Emissions licence
and the Pan Palladium Mining Licence in relation to the
Project.
The Company has been granted the Air Emissions licence by the
Department of Economic Development and Tourism ("Ledet").
In addition, the Company has been informed by Sylvania Platinum
Ltd ("Sylvania") that the mining licence for heavy minerals, iron
and vanadium for Pan Palladium (Pty) has now been granted by the
Department of Mineral Resources.
In accordance with the terms of the agreement dated 14 March
2012 for the acquisition by Mercury Recycling Group plc (now
Ironveld plc) of the Ironveld Group from Sylvania, Pan Palladium
(Pty) Ltd will transfer the mining right, via the Section 11
process, to Lapon (Proprietary) Limited, a subsidiary of Ironveld
plc. It is expected that application will be made in terms of
Section 11 of the MPRDA for consent to transfer the right to Lapon
immediately after execution of the right.
Peter Cox, CEO said:
"We continue to progress our project and receiving these
licences are near final steps towards production. Ironveld recently
announced the planned acquisition of a smelting business, which
will enable early production of HPI, Vanadium and Titanium. We are
in the final stages of agreeing the legal documentation and we will
be providing an update in due course. This planned acquisition
significantly de-risks the Project as it will ensure early
validation of our products and facilitate supply into the offtake
agreements. We are entering a very exciting time for the
Company."
Ends
For further information, please contact:
Ironveld plc c/o Camarco
Peter Cox, Chief Executive 020 3757 4980
Shore Capital and Corporate Limited
Stephane Auton / Toby Gibbs (corporate
finance)
Jerry Keen (corporate broking) 020 7408 4090
Camarco
Gordon Poole / Billy Clegg / Kimberley
Taylor 020 3757 4980
Notes to Editors:
Ironveld (IRON.LN) is the owner of a High Purity Iron, Vanadium
and Titanium project located on the Northern Limb of the Bushveld
Complex in Limpopo Province South Africa. Ironveld expects to mine
its own VTM ore as feedstock for a 15MW DC smelter which will
produce speciality iron products including high purity iron powder
as well as vanadium and titanium slag products.
The Definitive Feasibility Study published in April 2014
confirms the project's viability to deliver an exceptionally high
grade iron product (99.5% Fe) called High Purity Iron which
commands a premium in the market place. High Purity Iron Powder is
widely used in powder metallurgy, in magnetic materials and in
manufacturing of welding rods. Vanadium and Titanium slag
containing commercial grades of vanadium and titanium will also be
produced and sold. Vanadium has historically been used as
ferrovanadium or as a steel additive adding a considerable increase
of strength to steel. However it is the development of vanadium
redox flow battery systems for grid energy storage applications
that has the most potential to have a significant impact on future
vanadium demand. Titanium Slag is an upgraded white pigment that is
used in the manufacture of paint, paper and plastics.
Ironveld's Board includes; Giles Clarke as Chairman, Peter Cox
as CEO, Vred von Ketelhodt as CFO, Nick Harrison and Rupert Fraser
as a Non-Executive Directors.
Ironveld is an AIM traded company. For further information on
Ironveld please refer to www.ironveld.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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