Modern Mining November 2023

material and often used for advanced manufacturing and technology applications. Because of this, and Ironveld’s location, the company’s local production will meet the rising demand for HPI and will reduce reliance on international imports. The global water atomised iron powder market is expected to grow from $1.02 billion in 2017 to a projected $1.48 billion by 2030, at a CAGR of 4.5%. (Source: DataIntello Water Atomisation Iron Powder Market Report | Global Forecast.) Ironveld feels strongly about its strategy to produce and secure a supply chain of HPI, as the global market shows a lot of promise. With increasing demand from emerging and developed economies, South Africa’s strategic location and infrastructure make it competitive in international markets. The shift towards sustainable manufactur ing and clean energy solutions further boosts the demand for HPI. However, specific applications and requirements vary widely within each industry, and the suitability of water atomised iron powder depends on factors like particle size, purity, and physical properties. But it should be mentioned that as technologies and industries continue to evolve, new applications for iron powder may emerge. Even though many industries use water atomised iron powder, outlined below are some of the key industries that require the metal:  Powder Metallurgy: Water atomised iron powder is a key raw material in powder metallurgy pro cesses. It is used to produce sintered components such as gears, bearings, bushings, and structural parts in industries like automotive, appliances, and industrial machinery.  Electronics and Electrical Components: Iron powder is used in electromagnetic components like magnetic cores, transformers, and inductors for its magnetic properties.  Chemical Industry: Iron powder can be used as a reducing agent in chemical reactions, and it finds applications in various catalytic processes.  Aerospace and Defence: Iron powder can be used in the production of aerospace components, including parts for aircraft and spacecraft.  Oil and Gas Industry: Iron powder can be used in applications such as drilling fluids and as a weight ing agent in various oilfield activities.  Food and Pharmaceutical Industries: Iron powder can be used in food fortification and pharmaceuti cal applications where controlled iron supplemen tation is required.  Renewable Energy: Due to its chemical reactiv ity, iron powder can play a role in energy storage systems like iron-air batteries.  Environmental Remediation: Iron powder is used in environmental remediation processes, such as removing contaminants from groundwater through chemical reduction reactions.

An image of magnetite ore.

Ironveld’s participation in the iron powder market Ironveld acquired its Rustenburg smelter in late 2022 and, following extensive refurbishment, is now producing High Purity Iron, Vanadium slag and Titanium slag from its magnetite ore, which is mined from its mining operations in South Africa’s Bushveld Complex. The mine has a code compliant Resource of over 56 million tonnes of magnetite and fully approved, renewable Mining Rights extending to the 2040s. At full operational capacity, the Rustenburg smelter will be producing around 20 000 tonnes per annum of High Purity Iron, which Ironveld is plan ning to upgrade into atomised powders from 2024 onwards – thereby becoming the sole producer of these powders in the southern hemisphere. As such, Ironveld will be able to meet the grow ing global demand for atomised iron powder and will assist in creating a sustainable supply chain to the key industries. 

A view of the inside of the smelter.

November 2023  MODERN MINING  11