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LONDON - Ironveld PLC (AIM:IRON), a mining development company, has announced the commencement of commercial production at its newly constructed Dense Media Separation (DMS) plant in Limpopo Province, South Africa. The completion of the plant’s construction and the initiation of production ramp-up mark significant milestones in the company’s operational development.
The DMS plant, which processes stockpiled material to produce DMS grade magnetite, has completed trial production runs and is now fulfilling an existing offtake agreement with Sable Platinum Pty Ltd. According to the company, external laboratory analysis confirms that the magnetite product meets market specifications.
In addition to the DMS plant’s progress, Ironveld has reported the completion of overburden clearance at its mining operations and the imminent completion of drilling for the first blast of fresh ore. The company is in discussions with potential partners for ore sales, indicating strong interest from parties targeting export markets.
Ironveld has also completed an initial engineering study for a small-scale plant to produce high-purity iron powder, with a comprehensive design data pack under review.
CEO Kris Andersson expressed optimism about the company’s transition into revenue generation, noting that demand for Ironveld’s material has exceeded expectations. He highlighted the direct sale of ore as an exciting new revenue stream, emphasizing the international demand for vanadium, titanium, and iron. Andersson anticipates a fundamental shift in Ironveld’s trajectory towards becoming a fully operational, revenue-generating business.
The company’s smelting operations are expected to deliver high-margin products and are seen as key to unlocking the full value of Ironveld’s asset base. Further updates on the company’s progress across its operations will be provided in due course.
This operational update is based on a press release statement from Ironveld PLC.
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