New Strategic Advisor
February 28 2007 - 7:30AM
UK Regulatory
RNS Number:0346S
Braemore Resources PLC
28 February 2007
News Release
28th February 2007
Braemore appoints Qinisele Resources as Corporate and Strategic Advisor for
Independence Platinum Limited
The Board of Braemore Resources Plc ("Braemore" or "BRR") is pleased to announce
that it has appointed Qinisele Resources (Pty) Limited ("Qinisele"), a
specialist metals and minerals management consultant as corporate and strategic
advisor to its subsidiary Independence Platinum Limited for its nickel and
platinum group metal projects in South Africa.
Qinisele was established by Mr. Dennis Tucker, a well known and highly regarded
mining engineer with over 25 years experience in the global mining and financial
markets. Prior to establishing Qinisele, Dennis and his team worked for Investec
Bank, Johannesburg where he was head of the Resources Corporate Finance
division.
Braemore will benefit from Qinisele's long experience in the South African
resources finance markets and direct involvement in the nickel and PGM sectors.
Qinisele will provide the necessary strategic and corporate direction that will
assist in successfully commissioning South Africa's first independent smelter
operation using Mintek's ConRoast smelting technology for the processing of
concentrates from new Platinum Group Metal and nickel operations currently under
consideration by Independence Platinum in South Africa.
ENDS
For further information contact:
Braemore:
Mr Hamish Bohannan
Managing Director
Braemore Resources Plc
Telephone (Office): +61 8 9218 8833
Telephone (Mobile): +61 419 234 770
Qinisele Resources:
Mr Dennis Tucker
Qinisele Resources Pty Limited
Telephone (Office): +27 11 469 4613
Nabarro Wells & Co. Limited
Mr Hugh Oram
Director
Telephone (Office) +44 20 7710 7400
Parkgreen Communications
Justine Howarth/Clare Irvine
Telephone (Office): +44 20 7851 7480
Background:
Braemore Resources Limited
Braemore Resources Plc is a public company listed on the Alternative Investment
Market of London Stock Exchange.
Independence Platinum Limited
Independence Platinum Limited has been established for the purposes of financing
and investing in the evaluation, development and operations of Independence Base
Metals Refiners (Pty) Ltd, Independence Platinum Resources (Pty) Ltd and
Independence Precious Metals Refiners (Pty) Ltd in South Africa.
Braemore Resources Plc ("Braemore" or "BRR") acquired control of Independence
Platinum Limited ("Independence Platinum"), an unlisted company registered in
England and Wales in December 2006.
Independence Platinum is implementing plans to evaluate, establish and operate
independent base metals refining facilities for the smelting and refining of
sulphide concentrates containing platinum group metals ("PGM") from emerging
platinum producers in South Africa.
The new smelting and refining facilities are being evaluated in terms of an
initial capacity to process 360,000 tonnes of sulphide concentrates containing
platinum group metals ("PGM") per annum, to extract and produce up to 30,000
tonnes of nickel metal, 15,000 tonnes of copper metal and 1,000,000 ounces of
PGM in a high grade PGM iron alloy for subsequent precious metal refining.
There are some 25 new PGM projects under review in South Africa at present with
only a few of these having offtake agreements with the major PGM producers, who
require concentrates meeting exacting specifications in terms of low chrome and
nickel content. Most of these newer projects would produce concentrates with
higher chrome and nickel contents which are metallurgically challenging for
traditional "6-in-line" smelters.
Consequently, there is an urgent requirement for a new independent smelter
applying new smelting technology that can accommodate such "difficult"
concentrates. IPt with its proven patented ConRoast smelting technology,
licensed from Mintek in South Africa has the ability to process these ores.
Independence Platinum is proceeding with the implementation of plans for the
development and operation of independence smelting and base metals refining
facilities in South Africa.
Mintek
Mintek is a statutory body constituted in South Africa and a leading
organisation engaged in the business of research, development, commercialisation
and promotion of technologies for the processing of minerals world wide.
ConRoast Process
Mintek developed, piloted and patented a process for the treatment of sulphide
concentrates containing platinum group metals, nickel, copper, cobalt and other
base metals ("ConRoast Process").
The ConRoast Process operates to remove sulphur from the metal sulphide
concentrates by roasting, followed by smelting of dead-roasted concentrate in a
DC arc furnace using an iron based alloy as a collector of platinum group
metals, nickel, copper, cobalt and other base metals.
The ConRoast Process offers significant advantages in terms of environmental
impact, health and safety.
Sulphur emissions are captured and removed from the enclosed roasting equipment
in a continuous stream of sulphur dioxide gas of an appropriate strength as feed
to a plant to produce sulphuric acid for use in downstream base metal leaching
operations.
The ConRoast Process provides great flexibility for treatment of a range ore
types and concentrate compositions without imposing limits on the minimum
quantities of contained base metals or sulphur. It can tolerate high contents
of chromite in concentrates characteristic of UG2 ores. UG2 ores are becoming
increasingly important in the production of platinum group metals.
The ConRoast Process produces a metal alloy from the furnace which is water
atomised prior to leaching.
Overall the ConRoast Process achieves very high metal recoveries and produces
high purity metals and a clean high-grade concentrate of platinum group metals
for precious metals refining.
END
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