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Afarak gets green light at the Zeerust chrome mine

The long-term outlook for chrome is favourable. Demand continues to be driven by Chinese economic growth, while supply is limited to a handful of geographic locations
South Africa has about 75% of the world’s chrome reserves

Afarak Group plc (LON:AFRK) has been given the green light by the authorities to start mining at the Zeerust chrome mine in South Africa.

The Department of Mineral Rights in South Africa has granted the mine a “Section 11”.

READ: Afarak boasts an attractive suite of chrome and speciality alloys assets in South Africa and Germany

"The Section 11 allows Afarak to start mining and to secure an own-supply of high-quality ore for our smelter in Mogale,” explained Guy Konsbruck, Afarak’s chief executive officer.

“Thanks to the ore in Zeerust, Mogale will now be the only South African smelter capable of producing high carbon ferrochrome. Afarak will be consolidating its position as a vertically-integrated producer with a diversified range of products," he noted.

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