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JOHANNESBURG - Mining development company Ironveld PLC (AIM:IRON) is advancing preparations to restart its joint-venture magnetite processing facility in Limpopo, South Africa, according to a company press release statement issued Tuesday.
The company reported that Daemaneng Minerals, which will operate as a subcontractor at the Dense Media Separation (DMS) plant, has completed key commissioning activities including the delivery of a new Caterpillar generator to the site on Monday. The existing generator will serve as a backup unit.
Ironveld outlined a phased approach for the operational handover, with plans to begin processing stockpiled material through the circuit later this week. Preparatory work includes mechanical and electrical inspections, equipment testing, and the delivery of supporting machinery such as a 30-tonne screen, an excavator, and a front-end loader.
The company has established a management structure for the operation, with Tebogo Phetla serving as Ironveld's senior on-site representative providing oversight of Daemaneng's operational team. Victor Mkhaliphi from Daemaneng will manage the plant operations, bringing experience from previously constructing and commissioning a 200 tonnes-per-hour DMS plant.
"We are very pleased with the commitment and progress demonstrated by the Daemaneng team. The project remains on schedule and in line with our previously communicated milestones," said Kris Andersson, CEO of Ironveld.
The company has also appointed a dedicated community liaison to support local employment and procurement initiatives, with an introductory meeting held Monday with the Lekhureng community located near the operations.
Ironveld stated that Daemaneng is engaged in discussions with several potential offtake partners for the plant's future production, though no agreements have been finalized.
The operational update follows agreements between Ironveld and Daemaneng announced on October 7 and October 30, 2025.
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