Kazera Global granted mining permit for Walviskop heavy mineral sands project
Kazera Global PLC has been granted mining permit for the Walviskop heavy mineral sands (HMS) project, in South Africa’s Northern Cape Province.
The licence is a five-year permit that will facilitate the start of heavy mineral sands production with the possibility of further extensions. According to the AIM-listed company, the mine is expected to generate positive cashflow within the next six months and produce around 6,000 tons of heavy mineral sands a month. Estimated gross profit is seen at more than $300,000 a month at current prices.
Gross profit
The firms aims to generate more than $300 000 of gross profit a month, for 6 000 t a month of HMS production. The project currently has an estimated mine life of five years. According to the company, this development will have a substantial positive impact on the company’s profitability and the Richtersveld region.
Walviskop sits within the diamond mining operations of Kazera’s other South African subsidiary Deep Blue Minerals. The Walviskop deposit has a mineral resource of 3.11-million tons of HMS grading 61.2%, predominantly consisting of garnet and ilmenite. Whale Head has also applied for a prospecting right over an adjacent beach, which appears to share similar characteristics to Walviskop and is much larger.
