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:: Marikana Gets Chrome Recovery Plants
Lonmin has signed two contracts to construct chrome recovery plants at its Marikana platinum operation in South Africa, enabling it to gain chrome by-product revenues. The company is also considering building plants to recover platinum group metals (PGMs) from tailings from UG2 concentrators, following the removal of the chrome.
"These agreements mark the continuation of a trend across the industry as PGM producers look to realise value through chrome by-product revenues and improved PGM recoveries," said Lonmin CEO Ian Farmer.
The two chrome recovery plants will be built and operated by the Xstrata-Merafe Chrome Venture and ChromTech and are expected to be in full production by the second half of Lonmin's 2011 financial year. Under the terms of the contracts, the Xstrata-Merafe Chrome Venture and ChromTech will purchase the chromite concentrate produced from the plants.
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