ARM reopens platinum and nickel mines in projects worth R16bn

AFRICAN Rainbow Minerals (ARM) announced on Thursday the restart of its Bokoni platinum mine and, in a separate development, the Nkomati nickel open pit mine after approving projects worth nearly R16bn.The group, chaired by Patrice Motsepe, will spend R15.2bn over seven years in the redevelopment of Bokoni, which it shut in September last year, amid depressed platinum group metal (PGM) prices.ARM will focus on Bokoni’s UG2 orebody, developing it in a phased approach using both mechanised and traditional stoping methods. The project will include construction of a new 120,000-ton-per-month concentrator. In addition to Bokoni’s recently refurbished 60,000t/m concentrator, ARM anticipates production from Bokoni of 300,000 to 450,000 PGM ounces a year by 2033.Bokoni, situated near the town of Atok in the Limpopo province, has long posed problems for its operators. Anglo Platinum and Atlatsa Resources Corporation failed to resuscitate the mine, finally closing it in 2017, before selling it to ARM in 2021 for R3.5bn.Commenting on the project’s rationale, ARM said today it was heartened by the improvement in PGM prices amid continued automotive demand, electric vehicle growth notwithstanding, and the likelihood of declining South African production.The Bokoni project will be funded mainly by ARM, cash generated by Bokoni during ramp up, and external debt funding as required.In reopening Nkomati Nickel, a mine in Mpumalanga, ARM will spend R753m targeting steady-state nickel concentrate production of 56,065 tons annually.Nkomati’s restart is not a surprise as ARM announced in April it had agreed an off-take agreement with Boliden Commercial AB, a Swedish miner. Commenting on the deal, the details of which are yet to be disclosed, ARM said it would provide Nkomati with access to European demand for nickel units.Plant refurbishment at Nkomati’s premises started this month while mining from the open pit is planned from October 2026. Nkomati will have a life of mine of 13 years, the group said.The post ARM reopens platinum and nickel mines in projects worth R16bn appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com