Ironveld Mining
Ironveld’s mining company holds two Mining Rights through its subsidiary companies HW Iron (Pty) Ltd and Lapon Mining (Pty) Ltd and through its other subsidiary, Luge Prospecting and Mining (Pty) Ltd it holds a Prospecting Right for which a Mining Right Application has been submitted and accepted.
Mining operations are currently undertaken by the subsidiary companies across the Group’s Mining Licences in order to ensure that all interested communities share in the benefits of the magnetite ore mined and sold. These subsidiary companies are responsible for the mining and employing members of the local community who make up the majority of the work force. Ironveld Mining supplies management, finance and technical services to the subsidiary companies.
Ironveld Mining companies are also supplying magnetite to IPace, a joint venture owned equally with Pace SA, which crushes the ore and supplies correctly sized magnetite ore to Ironveld Smelting, which smelts the ore into the HPI and slag products.
Ironveld Mining completed and published a CPR in 2013, including a JORC compliant Ore Resource Statement on the Main Magnetite Layer to 120 m depth at a 20% Fe grade.