ANA
Premium Journalist
1 minute read
5 Jan 2017
9:41 am

Bauba restarts chrome mining after price recovery

ANA

Bauba said the build-up to planned production of 20,000 tonnes of chrome-ore per month was expected to be achieved within three months.

A recovery in prices has seen Bauba Platinum resume chrome mining at its Moeijelijk Mine, the company said on Thursday.

The mine was placed under care and maintenance on January 11 last year after a decline in the chrome-ore price – from $175 per tonne to approximately $120 per tonne – rendered the chrome project financially unviable.

The company said in a statement on Thursday that the price had rebounded from last year’s low of $80 per tonne to around $380 per tonne.

Bauba said the build-up to planned production of 20,000 tonnes of chrome-ore per month was expected to be achieved within three months.

“From a difficult position in 2016, Bauba has, having wisely preserved its chrome-ore reserves for more favourable prices, come into a stronger position and is well positioned to capitalise on these improved prices” says Bauba’s chief executive officer, Nick van der Hoven.