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Braemore Resources Says Strategy In South Africa On Track

28th Nov 2008, 10:32 am Braemore Resources Says Strategy In South Africa On Track

Braemore Resources PLC said it is on track to reach its goal of becoming the first independent, empowered platinum group metals producer in South Africa and is excited by the opportunities available.

Ina statement prepared for the group’s annual general meeting, Braemore said in the past year, it has steadily advanced its strategy within both its platinum and nickel operations.   


 The continuing successful operation of its demonstration PGM smelting facility in Johannesburg has generated cash flow and proved the economic viability of its ConRoast technology. The facility is currently ramping up from 75 percent to 100 percent capacity utilisation and the recent off-take agreements signed with Anglo Platinum and Northam have secured smelter feed amidst an uncertain environment in the PGM sector.


On the nickel side, a review of project economics and related development options regarding the Leinster project is ongoing and will be concluded within the first quarter of 2009.

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