Metorex ( Pty ) Ltd
Dilala East was discovered as a blind , high grade copper and cobalt deposit in 2007
“ It is a very high grade copper cobalt deposit . In December last year we completed the bankable feasibility study and we are going through some further optimisation studies on the back of that ”
– Michael Benfield , CFO
confirmed the potential to mine and process mixed sulphide and oxide ores . The mineral resource of 93 million tonnes at a grade of 1.9 percent copper will eventually be mined by open pit methods .
“ We anticipate this project will cost somewhere between $ 500 million and $ 600 million and think that we may start it within the next five years ,” said Benfield .
The Chinese factor While the history of Metorex ’ s two operating mines extends back over many decades , the company itself was founded in 1975 by a consortium including Simon Malone which acquired Rand London Mines and subsequently became known as Metorex .
94 September 2014