The bling in the tailings
Mantengu believes leftover chrome in the waste at Blue Ridge can generate R1.5bn in free cash flow
Mining tailings is lucrative business for those who get the technology right. DRDGold is the established brand in the industry, but rivals such as Jubilee Metals and Sylvania Platinum are in its slipstream. Copper 360 and Rainbow Rare Earths have also entered the market, introducing new technology or techniques to reprocess mineral waste that the market suddenly wants.
Mantengu Mining, a chrome producer, is another player in the sector. It reported a R2.96m net profit in the six months to end-August on 33,000t of chrome concentrate — only a few months of production. It has almost matched that output in September and October alone, CEO Mike Miller tells the FM. Though the chrome price has fallen about $30/t to $270/t, he expects far better second-half earnings...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.