• PROJECTS AND EXPLORATION
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ANOTHER PROJECT DELIVERY RECORD FOR NORTHAM
• Location : South Africa
• Phase : Expansion
• Resource : PGM
Northam achieved yet another project delivery record with the completion of drilling of its No 3 Shaft in April this year , at a world record depth of 1 382 metres at the group ’ s Zondereinde mine in the western bushveld . This will extend Zondereinde ’ s LOM mine to over 30 years .
Work on the No 3 shaft at Zondereinde ’ s significant brownfields capital expansion project , the western extension , started in early 2020 . This is a quality resource block containing 21 million ounces of PGM within the high-grade Merensky and UG2 orebodies . The resource was purchased in 2017 for R1-billion . The addition of the western extension improves operational flexibility at Zondereinde and will permit annual PGM output to increase to 350 000 ounces 4E by 2026 .
Mining activity from the existing workings of the Zondereinde mine will gradually transition into the western extension block . The new shaft complex is situated some four kilometres from the original Zondereinde Mine complex , a distance which constrains service delivery and logistics . The new shaft will transport people and materials , as well as allow the supply of services , including backfill , chilled service water and ventilation , to the underground workings . This will alleviate the challenges associated with distance from the existing Zondereinde shafts .
The Zondereinde mine , situated in Limpopo Province near Thabazimbi is a key contributor to social upliftment and development in the area . The development of No 3 shaft will secure the jobs of Zondereinde ’ s current employee complement of 10 700 , as well as an additional 600 permanent positions . This provides the impetus for further economic activity in the province .
Northam CEO Paul Dunne said , “ This project milestone was delivered on time and on budget by the Zondereinde team , in collaboration with our project service provider , Master Drilling . The resultant long-term stability and life of mine extension delivered by this project will have a beneficial impact on the mine , its stakeholders and the local economy for decades to come .”
BANNERMAN ACQUIRES STRATEGIC STAKE IN NAMIBIA CRITICAL METALS INC
• Location : Namibia
• Phase : Acquisition
• Resource : Heavy Rare Earths
In May this year Bannerman Energy Ltd announced that it has agreed to acquire a 41.8 % shareholding in TSX Venture Exchange listed critical minerals exploration and development business , Namibia Critical Metals Inc . NMI ’ s flagship asset is the 95 % -owned , advanced and fully permitted Lofdal Heavy Rare Earths Project in Namibia . The Lofdal Project is the subject of an earn-in agreement with leading global resource strategic partner , Japan Oil , Gas and Metals National Corporation ( JOGMEC ).
Additional highlights
• Bolt-on acquisition offering significant alignment and synergies with Bannerman ’ s Etango Uranium Project in Namibia .
• Total consideration of AUD7.24-million cash and 8,463,367 fully paid BMN ordinary shares , representing a significant discount to current NMI market trading value .
Bannerman ’ s managing director and CEO , Brandon Munro , commented : “ The Lofdal Project is on a path to produce dysprosium and terbium , two of the most strategically important metals on the planet . Our exposure to this future production , through a strategic shareholding in Namibia Critical Metals , is therefore a strong fit with Bannerman ’ s Etango Project , a near-term supplier of uranium at a globally significant scale . I have followed the Lofdal Project and worked with its management since living in Namibia in 2010 and am personally delighted to formalise these strong in-country working relationships . I am also pleased that long standing relationships with NMI ’ s major shareholders have enabled a direct , efficient transaction at this point in time .
“ As Lofdal moves closer to production , our partnership offers strong potential to leverage Bannerman ’ s extensive in-country expertise and credentials , in particular in the ESG ( Environment , Social and Governance ) sphere . After meeting at Lofdal with NMI president , Darrin Campbell , and key JOGMEC representatives , I am confident that there is a strong alignment of intent and values between Bannerman and NMI , which has strong community and government relationships built during their 15-year presence in Namibia .”
12 • African Mining • July 2022 www . africanmining . co . za