South Africa: Lonmin secures $50 million for tailings treatment
Friday, 19 August 2016 08:08
Platinum miner Lonmin plc secured a $50 million funding for a Bulk Tailings Treatment (BTT) in South Africa. The firm announced that it has already received a first tranche of $9 million and that work has started.
Lonmin intends to re-process 26 tons of mine residues at a pace of 300,000 per month. Production is expected to begin in 2018. Once stable, the project should produce about 29,000 oz of platinum a year or around 55,000 ounces of Platinum Group Metals.
“The BTT project is part of our strategy to focus on low cost ounces to maximise our cash position and create value for all our stakeholders,” says Lonmin CEO Ben Magara.
Lonmin is the world’s third largest platinum producer.
Louis-Nino Kansoun
Live News
-
Rwanda trade deficit narrows 12.5% in Q2 2025 as imports, exports fall
20:42
-
Mali rolls out new digital tools to modernize public administration
20:14
-
Orion seeks $200 mln to kickstart South Africa’s Prieska copper-zinc mine
20:00
-
BW Energy reshuffles leadership, keeps Africa core to growth strategy
19:44
-
Cabrel Dji brings digital innovation to traditional tontines in Cameroon
18:08
-
Cameroon: Sodecoton Partners Onacc to Combat Climate Change Losses
17:33
-
Norwegian Scatec Consolidates Cameroon Solar Dominance with Second CFA25 Billion Investment
16:39
-
Cameroon Navigates Inflation: 2018-2025 Economic Overview
16:12
-
CAF to launch “Yalla” app for AfCON 2025 tickets, Fan ID and e-Visa
13:14
-
Cameroon seeks study firm for CFA500 bln national fertilizer plant project
12:56
From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...
Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...
• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...
Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...
Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...
Trade deficit down to $758.9 mln in Q2 2025 from $867.3 mln a year earlier. Exports dropped 35.6%, while imports declined 20.5%...
Local firms deliver digital solutions for transport, health, and territorial admin. Systems include biometric licenses, hospital records, and local...
Brice Morlot moves from CFO to head of operations, replacing Lin Espey. Thomas Young shifts from strategy to CFO as company targets 90,000 bpd by...
EBRD, EU, GCF, and Canada plan €65 mln ($77 mln) green loan for Crédit du Maroc. Funds to support clean energy, water treatment, and sustainable...
Surprisingly, only one African song made it onto Rolling Stone's list of the 500 Greatest Songs of All Time. The track is "Essence," a collaboration...
The Umhlanga Festival, also known as the “Reed Dance,” is one of the most iconic cultural events in the Kingdom of Eswatini in Southern Africa. Every...