HACRA Project Mining Right Announcement

RNS Number : 0610D

Ironveld PLC

24 April 2013

 



Ironveld plc ("Ironveld" or the "Company")

HACRA Project Mining Right Announcement

The Company is pleased to announce that Hacra Mining and Exploration Company (Pty) Ltd ("HACRA"), a 71% subsidiary of Sylvania Platinum Limited ("Sylvania"), has confirmed that it has submitted an application for a Mining Right on the Farms Harriets Wish, Cracouw and Aurora.

The Mining Right Application submission was made in accordance with the terms of the acquisition agreement dated 14 March 2012 for the acquisition by Mercury Recycling Group plc (now Ironveld plc) of the Ironveld Group from Sylvania.

The commencement of the Mining Right Application including the Mine Works Programme, the Social Labour Plan and Company structures began in March 2013 with the uploading of these documents into the Department of Mineral Resources ("DMR") submissions database. The uploading of all required documents has now been concluded and proof of submission has been received from the DMR.

A decision by the DMR on the Mining Right Application is expected during the course of 2014

Commenting today Peter Cox, CEO of Ironveld plc, said: "The submission of the Mining Right Application by HACRA is a key milestone for Ironveld in the development of our pig iron project ."

For further information, please contact:

Ironveld plc Peter Cox, Chief Executive	c/o FTI Consulting  020 7269 7183
Shore Capital and Corporate Limited	020 7408 4090
Stephane Auton /  Toby Gibbs (corporate finance)
Jerry Keen (corporate broking)
F T I Consulting	020 7269 7157
Oliver Winters / Katherine Goligher

 

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