Modern Mining February 2022

Steenkampskraal eyes listing on the stock exchange The Steenkampskraal mine, one of the world’s highest grade rare earths mines, situated in the Western Cape of South Africa.

Steenkampskraal Holdings (SHL), a rare earth (RE) mine in South Africa and one of the world’s highest-grade RE mines, has announced a substantial investment in the company by Monoceros Mineral Resources (MMR). SHL chairman Trevor Blench said that the MMR investment would be used for mining activities at Steenkampskraal and to list the company on a stock exchange. “SHL shares will soon be available for investors,” he said. MMR was started by Timothy Crombie, a chemical engineer and data scientist who recognised the need for rare earths in the global transition away from fossil fuels and the important role that Steenkampskraal can play in this transition. SHL has appointed Crombie as a director and project manager. Crombie explained that rare earths, and specifically neodymium (Nd) and praseodymium (Pr), are used in electric motor magnets to make electric vehicles (EVs). These are key com- ponents in numerous other products. “The production and sales of EVs

The Steenkampskraal core shed. The mine plans to produce 5 000 tons of monazite concentrate per year. more than doubled in 2021 to 6.6-million and continue to rise rapidly in 2022. Rare earths are also used to make wind turbines, another fast-growing industry,” he said. The rare earths that are used in these two industries are neodymium, praseodym- ium, dysprosium and terbium. Neodymium and praseodymium represent about 74% of the total economic value of the rare earths reserves at the Steenkampskraal mine.

Steenkampskraal mine geologist, Andree Muntingh, describing the mine’s rare earths vein. Steenkampskraal has a NI 43-101 min- eral resource estimate that confirms the presence of 605 000 tons of ore at an aver- age grade of 14.4% total rare-earth oxide (TREO). The mine therefore contains about 86 900 tons of TREO, including 15 630 tons of neodymium, 4 459 tons of praseodym- ium, 867 tons of dysprosium and 182 tons of terbium. The prices of these four rare earths more than doubled in 2021. 

Séguéla gold eyes first gold pour in mid-2023

Canadian-based precious metals mining company, Fortuna Silver Mines, continues apace with construction activities at its Séguéla gold project, located in Côte d’Ivoire. The company is building a 3750 tonnes per day open pit mine at Séguéla, with first gold pour expected in mid-2023. Paul Criddle, COO – West Africa, commented, “The Séguéla Project is advancing on schedule following the construction decision at the end of the third quarter of 2021. The project is successfully transitioning from detailed engineering design to con- struction and remains on budget and on schedule to pour gold by mid-2023.” Construction highlights include:  The overall project is 32% complete as of January 31, 2022

 Major construction contracts executed  Tender process and selection of the preferred mining contractor completed  First gold pour remains on target for mid-2023 

 Around $124.5-million committed  Major equipment packages secured

A 156-person accommodation camp being built at the Séguéla gold project.

February 2022  MODERN MINING  5